ASIA-PAC EQUITY WRAP: Asian stocks gained after strong US retail sales data and China support pledges

Analysis details (05:37)

Asia-Pac stocks were positive as the region followed suit to the gains in the US where the major indices edged higher as participants digested a slew of data releases including stronger-than-expected retail sales and with NY Fed Manufacturing better-than-feared. ASX 200 (+0.8%) was firmer after several key earnings releases although gains were capped by disappointing jobs data which showed a surprise contraction in Employment Change and a higher Unemployment Rate. Nikkei 225 (+0.8%) was led by strength in auto manufacturers including Toyota which plans to boost output next month, while data releases were varied in which machinery orders disappointed and trade data was mixed. Hang Seng (+2.0%) and Shanghai Comp. (+0.6%) conformed to the improved risk tone with the tech sector front running the outperformance in Hong Kong and with the mainland also underpinned after the PBoC and NDRC pledged support measures. 

16 Feb 2023 - 05:36- Fixed IncomeData- Source: Newsquawk