[MARKET ANALYSIS] Asia-Pac bourses trade mixed, with underperformance in the KOSPI ahead of Samsung Q2 figures
Thai Inflation Rate YoY (Jun) Y/Y 2.42% vs Exp. 2.7% (Prev. 2.79%); M/M -0.3% vs Exp. 0.2%; Commerce Ministry says Q3 headline inflation seen at 2.79%
Thai Core Inflation Rate YoY (Jun) Y/Y 1.23% (Prev. 0.92%)
[MARKET ANALYSIS] Asia-Pac bourses trade mixed, with underperformance in the KOSPI ahead of Samsung Q2 figures
Honda's (7267 JT) China unit reports June vehicles sales of 32.5k units, -44.5% Y/Y
Goldman Sachs sees USD/JPY at 165.00 in a year's time, raising its forecast from 155.00, citing Japan's interest rate differentials with the US
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- Asia-Pac stocks initially started the session with broad gains but reversed as the session continued, with a busy week ahead, which includes Samsung Electronics Q2 earnings and SK Hynix's US listing.
- ASX 200 has managed to limit its downside, with upside seen in Energy and Health Care broadly offsetting the downside seen in Consumer Staples and Mining names. Further on the mining topic, Genesis Minerals has made a AUD 5.6bln bid for Vault Minerals, hijacking a deal previously made with Regis Resources.
- Nikkei 225 is softer as it continues to pull back from its ATH of 72,832. Koixia is one of the big underperformers, after the Co. begun shipping sample next-gen semiconductor products.
- KOSPI is under significant pressure, despite initially printing gains of as much as 2.9%, with Samsung set to report Q2 figures on Tuesday, as operating profit is expected to print at KRW 86tln. However, a miss would be detrimental to tech valuations.
- Shanghai Comp. trades just shy of the unchanged mark while the Hang Seng prints modest gains. Alibaba has found some comfort after a US federal judge has ordered the Pentagon to give the Co. a reprieve from a lobbying ban tied to the Pentagon's curbs on Chinese companies.
- US equity futures began on the front foot, supported by stronger-than-expected Q2 revenue by Foxconn and initial upside in the KOSPI, but has since reversed lower.
- European equity futures are indicative of a slightly softer open with the Euro Stoxx 50 future -0.2% after cash closed +0.8% on Friday.
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