Cautiously Higher In Asia; Nikkei Hits Six-Week High

Major Asia-Pac equity indices are mostly higher at typing, following a positive lead from Wall St.

• The Nikkei 225 sits 0.5% better off, operating around freshly made six-week highs at typing, and on track for a sixth higher daily close. The tech and real estate sectors lead the way higher, countering losses in utilities and energy.
• The ASX200 sits 0.2% firmer at typing, reversing earlier losses as a steady rally in financials (+0.9%) eventually offset losses observed in commodity-related equities. The “Big 4” banks led by ANZ deal 0.5-3.3% firmer apiece, adding to gains observed in real estate and tech.
• The Hang Seng sits 0.2% better off at typing, trimming earlier gains of as much as 1.0%. A rise in the financials sub-index (+0.3%) narrowly neutralised losses in the utilities sub-gauge (-0.6%), while elsewhere, a strong bid in China-based tech in the wake of Didi’s ~$1.2bn fine on Thursday evaporated over the course of the session, with the Hang Seng Tech Index (+0.3%) back from its own highs of as much as +1.8%.
• The CSI300 has reversed earlier gains despite opening higher, dealing 0.2% weaker at writing. The IT sub-index underperformed, with the broader tech space contributing the most to the pullback in Chinese equities, seeing the ChiNext and STAR50 indices trade 0.6% lower apiece.
• E-minis deal 0.1-0.7% worse off apiece, maintaining relatively tight ranges throughout the session, with NASDAQ contracts leading losses in the wake of Snap Inc’s earnings disappointment.