ASIA-PAC EQUITY WRAP: Asian stocks were mostly higher albeit with some of the gains capped in the absence of any major macro catalysts from over the weekend and as participants brace for key data and earnings

Analysis details (05:26)

Asia-Pac stocks traded mostly higher albeit with gains capped in the absence of any major macro catalysts from over the weekend and as participants brace for the upcoming key economic releases including the latest Chinese GDP and activity data. ASX 200 (+0.2%) was marginally positive as gains in tech and financials atoned for the underperformance in the commodity-related sectors. Nikkei 225 (Flat) was choppy around the 28,500 level with some of the biggest movers in the index driven by their earnings outlooks. Hang Seng (+0.7%) and Shanghai Comp. (+1.0%) were underpinned after the PBoC vowed to make prudent monetary policy precise and forceful, as well as increase support to expand domestic demand and keep liquidity reasonably ample, although advances were initially limited ahead of tomorrow’s economic growth data from China and after the PBoC unsurprisingly maintained its 1-year MLF rate at 2.75%.

17 Apr 2023 - 05:25- Fixed IncomeData- Source: Newsquawk