ASIA-PAC EQUITY WRAP: Asian stocks were somewhat mixed amid key holiday closures and after a flat lead from the US, while Hong Kong markets outperformed on return from holiday

Analysis details (05:49)

Asia-Pac stocks traded somewhat mixed after the flat handover from Wall St where the major indices recouped most of their initial losses after the Bank of Canada’s dovish rate hike whereby it signalled a pause going forward which spurred hopes that its counterparts could follow suit. Nikkei 225 (-0.2%) was subdued amid a firmer currency and upside in yields, while the government also lowered its overall economic assessment for the first time in 11 months. KOSPI (+1.4%) gained despite the weaker-than-expected GDP data although the finance minister flagged the likelihood of a return to growth for the current quarter. Hang Seng (+2.2%) outperformed as participants in Hong Kong returned from the Lunar New Year holiday and were greeted by strength in tech, property and autos, although trade across the region remained relatively quiet owing to the closures in Australia, China, Taiwan, India and Vietnam.

26 Jan 2023 - 05:47- Research Sheet- Source: Newsquawk