ASX Hits New Highs, Tech Earnings Weigh On Indices

Asia equities have opened mostly lower today, but have recovered some of the early losses, Australia remains the standout in the region. US Equities futures are also lower today after being pulled down by tech names, with the Nasdaq 0.80% lower following disappointing earnings from Microsoft and Alphabet earlier, while Eminis trade 0.40% lower

• Japan equity indices are mixed today, after recovering most of this mornings sell off, with the Nikkei falling as much as 1% in early morning trading, we currently trade just 0.10% lower for the day, while the Topix is now higher by 0.25%. The majority of the weakness in Equities today is coming from the Tech names, which could be attributed to weak tech earnings in the US earlier. Also, it's important to note earlier this morning BoJ Summary of opinions were out, with a hawkish tone attached, contributing to weaker equity prices, as the JPY moved higher, and JGB futures had a sharp drop.
• Hong Kong & China indices are lower again today, market sentiment is still poor following the ordered liquidation of China Evergrande, while China data isn't helping with the manufacturing PMI missing slightly, and a lack of details surrounding the market-stabilization program announced last week. Currently the Hang Seng is 1 % lower, while poor tech earnings weigh on Heng Seng tech index, down by 1.25%. Note the China Mainland Property Index is 1.85% lower, while CSI 300 is 0.2% lower
• South Korea is slightly lower today, as Samsung's profit fall again weighing on the Kospi, currently trading 0.15% lower.
• In Taiwan, the Taiex is being pulled lower by tech names, currently trading 0.75% lower
• Australia equities hitting fresh new all time highs, as inflation expectation cools, with the market now pricing in a 70% chance of a rate cut in June, up from a 50% chance yesterday. The ASX200 currently trading up 1.00%.
• In SEA, the Philippines bourse is the standout, up over 1.25%, with a Q4 GDP beat helping at the margins.