Asia Pac Markets Higher, Taking Cue From US & EU Gains

Regional equities are tracking higher in Tuesday Asia Pac trade, in line with cash gains in US & EU markets from Monday's session. Japan and Australian markets are the standouts at this stage, both with gains over 1%. US equity futures sit slightly down in, Eminis under 4800, while Nasdaq futures sit near 16788.

• Japan's Nikkei 225 is up 1.1%, the Topix trailing at +0.7%. The strong tech bounce in US markets on Monday has aiding this space on Japan's bourse today. A firmer yen backdrop hasn't hurt sentiment meaningfully, while Tokyo inflation data didn't point to a dramatic BoJ shift at the upcoming policy meeting.
• Other tech sensitive plays, like the Taiex and Kospi haven't outperformed though. The Taiex is around flat, although the local election is not too far away.
• The Kospi up a modest 0.15%. Weaker than expected Samsung Electronics profit results is a potential headwind. The Kosdaq hit +20% gains from the Oct 31 low in earlier trade, but sits off best levels.
• Chian and Hong Kong markets are modestly higher at the break.
• The ASX 200 is up around 1%, led by the financials.
• In SEA, the Indonesian stock market is off by a little over 1%, bucking the positive trends elsewhere. The index had a strong run higher from Nov lows, so we may be seeing some consolidation post that move.