Asian equity markets advanced today, buoyed by gains on Wall Street amid growing expectations that the Federal Reserve may soon signal interest rate cuts. Shares advanced in Japan, South Korea and Australia while those in China slipped. Meanwhile, the MSCI Asia-Pacific index is on track for its third consecutive day of increases.

• Japanese equities are higher today, tech is outperforming tracking US tech stocks. The yen's rally for the moment at least has stalled, and trades just above 146.00 this has helped exporters. The Nikkei is up 1.55%, while the Topix is up 0.90% with banks the largest detractor with the Topix Bank Index down 0.30%.
• South Korean tech stocks are the top performers today, with SK Hynix (+3.4%) & Samsung (+1.50%). South Korea's Financial Services Commission will reduce the mortgage loan limit for homes in the greater Seoul area starting September 1, aiming to curb rising household debt amid a rebound in apartment prices. Additional measures under consideration include expanding debt service ratio rules and increasing mortgage loan risk weights for banks. The KOSPI is 0.83% higher, while the KOSDAQ is0.90% higher.
• Taiwan are underperforming today, with the TAIEX 0.36% higher, TSMC which is the largest company in the index is only 0.10% higher.
• Australian equities are slightly higher today, earlier the RBA released minutes and plans to keep interest rates at a 12-year high of 4.35% for an extended period to ensure inflation returns to its 2%-3% target. Despite global peers easing policies. The ASX200 is currently 0.25% higher. New Zealand equities are down 0.75% following a fall in Utility stocks.
• Asia EM equities continue to benefit from the view of a soft landing in the US, Indonesia's JCI is 0.36% higher, Singapore's Strait Times is 0.17% higher, Malaysia's KLCI is 0.60% higher, Philippines PSEi is 1.30% higher.