Cautiously Higher Ahead Of Powell

Most Asia-Pac equity indices are in the green at writing, loosely tracking a positive lead from Wall St. Regional equities have regained some poise just ahead of Fed Chair Powell’s address at Jackson Hole, with a gauge of Asia-Pac stocks set to close higher for a second consecutive day after a five session streak of lower closes prior.

• The Hang Seng deals 0.7% firmer after opening higher, just shy of fresh one-week highs. China-based tech followed their U.S. listings higher on news of progress in Sino-U.S. talks to resolve well-documented audit disputes, with the likes of Alibaba (+2.0%) and Baidu (+3.5%) catching a bid (noting that the NASDAQ Golden Dragon China Index closed 6.3% higher on Thursday).
• The CSI300 is virtually unchanged at writing, back from as much as +0.6% earlier. The consumer staples (+0.8%) sub-index contributed the most to gains, offsetting steep declines in energy (-2.3%), with the CSI300 Real Estate Index (-0.6%) showing weakness as well.
• The ASX200 is 1.0% better off, on track to close higher for a third straight session. The major miners outperformed, sitting 1.3-3.0% firmer apiece at writing, adding to a strong showing from the healthcare sub-gauge (+1.3%). On the other hand, high-beta tech has lagged (S&P ASX All Tech Index: +0.1%), with participants likely sidelined ahead of impending event risk from Jackson Hole.
• E-minis are 0.1% worse off apiece at writing, having failed to break above their respective best levels observed on Thursday so far.