[MARKET ANALYSIS] Asia-Pac stocks are mostly higher as tech surges, while participants digest a slew of data, yen intervention and await the BoJ

· Jul 31, 03:04 AM

APAC Stocks: PositiveAsia-Pac stocks are mostly higher following the tech-inspired momentum stateside due to megacap earnings, while the region also digests a slew of data at month-end and Japanese currency intervention ahead of the BoJ decision.ASX 200: +0.2%Trades in the green amid strength in miners but with upside capped as healthcare and consumer sectors lag, with price action tame compared to the tech-heavy peers in the region.Nikkei 225: +4.2%Surged amid a tech buying frenzy, while participants also digested several data releases, including softer-than-expected Tokyo CPI data, which effectively supports the case for the BoJ to stand pat today.KOSPI +14.3%Rocketed as SK Hynix and Samsung Electronics surge over 20% from the open after the recent Microsoft-led momentum on Wall St and after further megacap earnings from Amazon and Apple.Hang Seng & Shanghai Comp: Hang Seng Flat / Shanghai Comp +0.7%Chinese markets are somewhat mixed, with the mainland in the green and the Hong Kong benchmark flat amid several key developments, including the Politburo meeting where authorities continued to pledge policy support, while Chinese President Xi noted the economy was facing challenges, and participants also digest disappointing PMI data which showed Manufacturing and Non-Manufacturing PMI slipped into contraction territory.US Equity Futures: PositiveEdged higher as the tech rally rolled over into Asia, with participants also digesting Apple and Amazon earnings.European Equity Futures +0.6%Indicate a positive cash market open with Euro Stoxx 50 futures up 0.6% after the cash market closed with gains of 1.5% on Thursday.FX

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