China Stocks Lower, As Market Waits For Greater Stimulus Details

Regional equity markets are mostly tracking lower. A negative lead from Wall St on Friday hasn't helped, while lack of details around fresh stimulus measures/timing from the China authorities post Friday's State Council meeting is also weighing. US equity futures tried to track higher in early trade, but couldn't sustain gains. Eminis were last under 4449 (-0.10% weaker).

• At the break, China's CSI is down 0.84%, with the index back under its simple 200-day MA (3951.08. last 3930.18). The real estate sub index is off by 2.00%. Lack of fresh stimulus detail from Friday's State Council meeting has weighed on sentiment. We are also seeing further growth forecast downgrades from the sell-side, which is an additional headwind.
• HK shares are also weaker, the HSI off by 1.57% at the break, tech shares down 2.63%, after rallying for the past 6 sessions. The Golden Dragon index fell in US trade on Friday, which is likely hurting sentiment.
• Japan's Nikkei 225 has lost ground, now down over 1.1%. The index struggling to breach the 33800 handle, now back close to recent lows near 33300.
• The Kospi is -0.85% weaker, although still above 2600 in index terms. SocGen downgraded South Korean stocks to neutral.
• In SEA markets are weaker, although outside of the Philippines, losses are less than 1%.
• Australia's ASX 200 is the only benchmark tracking higher at this stage, although Indian shares have also opened with a positive bias.