ASIA STOCKS: Asian Equities Mixed, HK & China Outperform On Stimulus Hopes

Asian markets are mixed today, in what has been a very quiet session for economic data and headlines. Japan's transport sector has led gains following Tokyo Metro's strong IPO debut, which surged 36% with foreign demand for the stock strong, signaling possible renewed offshore interest in Japanese equities, although political uncertainties ahead of Japan's lower house elections, a strong USD and rising yields have weighed on the market. Elsewhere, Chinese & Hong Kong stocks advanced on hopes of further government stimulus, Korea's benchmark indices have been supported by strong performance from Samsung & SK Hynix.

• US equity futures are trading slightly lower, although remain within recent ranges. Dow -0.30%, S&P 500 -0.10% & Nasdaq 100 -0.15%.
• Intraday flows into South Korean equities, show foreign investors are buying local tech stocks, although flows are still relatively light, there could be a bit of a rotation out of TSMC after its strong rally post earnings, it is 1.40% lower today after falling 0.92% on Tuesday.
• Chinese & HK equities advanced, supported by a government-linked think tank calling for the issuance of 2 trillion yuan in special bonds to create a market stabilization fund, with investors are optimistic about further stimulus from Beijing.
• It is another quiet session globally for economic data, with focus turning to corporate earnings. Later today we have earnings from Coca-Cola, IBM, AT&T and Tesla to name a few.