EQUITIES: China Equity Rescue Package, BoJ Rate Decision

Regional equities are mostly higher, with HK leading the way today, post news that China may look to support the equity market through a rescue package. US futures have been muted today, Nasdaq futures just holding onto gains up 0.10%, while Eminis were last near 0.01% higher.

• Japan has been dominated today by the BoJ rate decision, as the BoJ maintains policy rate at -0.1%, equity market sold off post the announcement. The Nikkei 225 was up as much at 0.73% prior to the decision and has since sold off to trade just 0.20% higher, while the Topix is now only marginally higher at this stage.
• Hong Kong and Mainland China indices have been active today, on the back of the news that China may look to stimulate the Equity market through a $278b rescue package (BBG). However, the rally has fizzled as investors suspect it may not be enough to have a real impact, the Hang Seng was up 3.5% at one stage to currently settle at 2.7% higher, while CSI is hovering around the unchanged levels for the day, after a 5% fall in the Hang Seng Mainland properties index yesterday the news of a rescue package has helped eras most of those loses to be trading 3.10% higher today.
• Elsewhere in Asia, equity markets the Taiex opened trading up 0.30% but has slowly given all gains back today to trade 0.15% higher. MSCI Sing up 0.67%, while India (Nifty 50 up 0.37%) became the world's fourth largest share market for the first time, overtaking Hong Kong.
• In Australia, the ASX 200 is up around 0.50%, largely on the back of the China Equity rescue package, with Australian business conditions data showing confidence remains weak. In SEA markets, markets are largely up between 0.20%-0.50% with the exception of Indonesia, which is 0.20% lower currently.