ASIA-PAC EQUITY WRAP: Asian stocks traded mixed after the flat Wall St lead as markets digested earnings and output updates

Analysis details (05:52)

Asia-Pac stocks traded rangebound with the region indecisive following the flat handover from the US where earnings were under the spotlight and early headwinds were seen after firmer-than-expected UK CPI data. ASX 200 (+0.2%) was indecisive as participants digested quarterly output updates and with the mining sector subdued despite the fresh record Q1 iron ore shipments by Rio Tinto, while Australian Treasurer Chalmers also announced the recommendations from the independent RBA review which included dual objectives of price stability and full employment, as well as establishing separate boards for governance and monetary policy with fewer meetings and press conferences to be conducted after policy decisions. Nikkei 225 (+0.2%) gradually pared opening losses following mixed trade data including better-than-expected exports growth and after a recent report that the BoJ is said to be wary of tweaking yield control this month. Hang Seng (+0.1%) and Shanghai Comp. (-0.7%) were mixed following the lack of surprises by the PBoC which maintained its benchmark lending rates for the 8th consecutive month and as frictions lingered after the US Commerce Department imposed a USD 300mln civil penalty on Seagate for supplying hard disk drives to Huawei in violation of export controls.

20 Apr 2023 - 05:51- Fixed IncomeData- Source: Newsquawk