China/HK Weaken, Firmer Trends Elsewhere

China/HK equities remain a weak point, with sharper losses recorded so far for today's session. Sentiment hasn't been aided by a weaker US futures backdrop, Eminis down near -0.50% at this stage, while the Nasdaq is off by -1.4%. This came after disappointing Amazon/Apple earnings results post the close. It is only unwinding some of the impressive gains from Thursday's session in US trade (S&P500 +1.47%, Nasdaq +3.25%).

• For Hong Kong, the HSI is off by near 1.75% at this stage, leaving the market down nearly 5% for the week. However, this would be the first weekly loss since mid December last year.
• The CSI 300 is down 1.5% at this stage, with northbound stock connect outflows evident for the first session since the beginning of the year. The Caixin services PMI came in stronger than expected, 52.9, versus 48.0 prior and the 51.0 forecast.
• Trends are more positive elsewhere, the Nikkei 225 up 0.35%, while the ASX200 gained 0.6%. The Kospi is up 0.50%, but the Taiex is down 0.10% at this stage.
• Philippine equities continue the recent volatile patter, down 1% today, while Indian shares are slightly higher, despite further sharp falls for Adani.