APAC Markets Sink On Risk Pullback & Stronger USD

APAC equities are almost weaker across indices as markets followed Europe down (US was closed Monday), risk sentiment continued to deteriorate and the US dollar strengthened another 0.3%. The MSCI APEX 50 is down 1.5% today. While the S&P e-mini is only down slightly and the NASDAQ is 0.5% lower.

• China’s CSI 300 is down 0.4% driven by a 1.6% drop in the property index and -1.2% in tech. Major lender Ping An put 41 development firms on a list for funding support. HK’s Hang Seng is 1.9% lower with tech underperforming again falling 2.3%.
• Korea’s KOSPI has fallen 0.8% with the KOSDAQ -0.3%. Taiwan’s TAIEX is down 0.9%.
• Australia’s ASX 200 has closed down 1.1% to a 4-week low with all sectors weaker led by utilities, energy and mining. After underperforming on Monday, NZ has outperformed today finishing flat.
• ASEAN is generally down but Indonesia’s Jakarta Comp has outperformed APAC rising 0.4%. SE Thai is down slightly, Singapore’s Straits Times is 0.3% lower and Philippines PSEi is down 0.2%.
• India’s Nifty 50 is steady.