ASIA-PAC EQUITY WRAP: Asian stocks traded mixed after the banking sector headwinds stateside and amid a deluge of earnings

Analysis details (05:47)

Asia-Pac stocks traded mixed with most of the major indices cautious amid the banking sector headwinds in the US and as participants digested a deluge of earnings releases and performance updates. ASX 200 (-0.4%) was lower with the index pressured in early trade by weakness in the mining-related industries after a recent decline in underlying commodity prices and with gold miners hit after lower output and sales by Newcrest Mining and Northern Star Resources, respectively. Nikkei 225 (Flat) was cautious with headlines dominated by corporate earnings and as the BoJ began its 2-day policy meeting, while the KOSPI (+0.2%) was indecisive after earnings from index heavyweight Samsung Electronics which topped the preliminary release but confirmed an over-95% drop in operating profit. Hang Seng (Flat) and Shanghai Comp. (+0.2%) were somewhat mixed with the biggest movers in Hong Kong driven by earnings releases, while the mainland was mildly underpinned by support measures after China's State Council unveiled a plan to stabilise employment and will support financial institutions to offer loans to businesses for expanding and stabilising jobs.

27 Apr 2023 - 05:46- MetalsResearch Sheet- Source: Newsquawk