Tokyo's main index closes higher despite slump in financial stocks
Although E-minis are trading lower by about 0.3%, it's not really hurting sentiment across Asian equities to start the day so far. The Nikkei is rebounding from Friday as chip maker stocks erased most of their losses sustained last week following Nvidia's poor earnings report but the main story that should not be overshadowed is the relatively underperformance in financial/bank stocks.
The focus in markets as we begin the week has plenty of chatter about the Fed reaching close to neutral rates and possibly putting an end to the current tightening cycle, and that sentiment is reflected in the fall in Treasury yields late on Friday - which is translating to a fall in bank stocks in Asian trading.
