Equity indices in the Asia-Pacific region were mixed on Wednesday, with South Korea’s Kospi (+3.7%) the standout thanks to leadership from its semiconductor components and the positive AI vibes flowing from CoreWeave’s earnings results.
Japan’s Nikkei: +0.8%,
Hong Kong’s Hang Seng: -0.8%,
China’s Shanghai Composite: +0.3%,
India’s Sensex: -0.2%,
South Korea’s Kospi: +3.7%,
Australia’s All Ordinaries: -0.4%.
Japan
August Reuters Tankan Index 18 (prior 13)
USD/JPY -0.1% to 159.16, with the yen weakening from a post-intervention high of 155.23 seen on August 3.
South Korea
There was a report from Asia Business Daily that Temasek, Singapore’s sovereign wealth fund, is looking at investing in Samsung and SK Hynix.
July Unemployment Rate 2.8% (prior 2.7%)
A contention by Bank of Korea’s Deputy Governor Sangdai that there will likely be more rate hikes due to persistent core inflation and strong economic growth did not upset the Kospi’s bullish bias.
India
July CPI 4.45% yr/yr (4.50% expected; prior 4.38%)