[MARKET ANALYSIS] Tech stocks climb in Asia following Anthropic's IPO filing
Asia-Pacific markets were mixed in the October 27 update: technology-related strength accompanied gains in Japan and South Korea, while China and Hong Kong fell; U.S. futures were rangebound.
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APAC Stocks: Mixed Asia-Pac stocks are ultimately mixed, but with strength seen in tech stocks following the outperformance in the sector stateside as it recovered from the recent AI-led sell-off and with Anthropic filing for an IPO. ASX 200: +0.2% Clawed back initial losses with outperformance in the commodity-related sectors, but with gains capped as defensives and consumer stocks lagged. Nikkei 225: +1.9% Index is underpinned by the tech-related momentum, with SoftBank among the biggest gainers owing to its stake in Anthropic and as it explores AI and digital infrastructure business opportunities in Malaysia. KOSPI +3.7% Outperforms and triggered a sidecar amid the tech strength and stronger-than-expected Advanced Q3 GDP. Hang Seng & Shanghai Comp: Hang Seng -0.1% / Shanghai Comp -0.2% Chinese markets lag despite the PBoC's liquidity boost, with today's open market operations totalling more than CNY 1.4tln, while continued double-digit percentage growth in YTD Industrial Profits also failed to inspire, as participants await earnings releases and as trade frictions linger, with the EU planning to impose import restrictions on Chinese chemicals and furniture. US Equity Futures: Rangebound Futures hold on to recent spoils following the tech-led advances on Wall St. European Equity Futures -0.2% Indicate a marginally lower cash market open with Euro Stoxx 50 futures down 0.2% after the cash market closed with gains of 0.8% on Monday.
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