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China/HK Equities Edge Higher, Mixed Trends Elsewhere


Regional equities have traded in a mixed fashion today. US futures are higher, albeit away from best levels. Eminis last around +0.10%, Nasdaq futures +0.14%. This follows falls during Monday trade for the major US bourses.

  • China/HK equities are higher. The HSI is up 0.84% to the break, with the tech sub index around +2% at this stage. while the CSI is +0.34% at this stage. Sentiment has been lifted in the developer space, as Wuhan lifted home purchase curbs.
  • Housing remains the missing link in terms of the China rebound story in 2023. Bloomberg notes the easing of curbs in Wuhan (on housing purchases) could pave the way for other cities to follow suit (see this link for more details).
  • The tone elsewhere is more mixed. The Nikkei 225 is close to flat, while earlier wages data came in stronger than expected with real wages back in positive territory.
  • The Kospi is up 0.60%, while the Taiex is also firmer (+0.20%), despite the negative tech lead from Monday's session.
  • The ASX 200 is down -0.55%, with a hawkish RBA 25bps hike likely weighing at the margin. SEA equity indices are mostly lower, with Indonesian stocks the exception (+0.87%).

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