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EQUITIES: Equities Opening Mixed, Eyes On China Prop Indices, US NFP Later

EQUITIES
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  • Equity futures are pointing to a quiet open this morning, as the markets awaits US NFP due later tonight and remain cautious of growing tensions in the middle east. There is little in the way of data due out during the Asian session.
  • Overnight, tech stocks outperformed the wider markets with the Magnificent 7 Index closing +0.34% and the Philadelphia SE Semiconductor Index closing +0.51%, while the S&P 500 closed -0.17%. Comments from Nvidia's CEO looked to help the tech sector with the stock closing 3.36% higher.
  • Japan's Nikkei 225 is trading +0.20%, while the TOPIX is +0.50% with Tokyo Electron trading 1.20% lower which has dragged the Nikkei. Focus in the region has been on the weakening yen, which has dropped 3.22% this week however held steady on Thursday.
  • China remains out until Tuesday, however Hong Kong will be trading, HSI futures are pointing to a 0.20% lower open. Property stocks were the worst performing sector yesterday and keeping an eye on the Mainland Property Index the majority of trading was done in the 1,470-1,520 area and we closed at 1,595 so a break below this area could see stops trigger and further downside.
  • Australia's ASX200 has opened 0.90% lower this morning with metals & mining contributing the most to the losses
  • South Korea will return from a Public Holiday on Thursday while Taiwan has downgraded the extreme weather that has been battering the island over the past few session which should see them also return.
  • All eyes will be on the US jobs report which is set to be a key piece of data informing the thinking of Fed policy makers and investors. According to BBG, the unemployment rate is predicted to hold steady at 4.2%, while m/m payrolls growth is tipped to be around 150,000, up slightly from the previous month’s 142,000.
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  • Equity futures are pointing to a quiet open this morning, as the markets awaits US NFP due later tonight and remain cautious of growing tensions in the middle east. There is little in the way of data due out during the Asian session.
  • Overnight, tech stocks outperformed the wider markets with the Magnificent 7 Index closing +0.34% and the Philadelphia SE Semiconductor Index closing +0.51%, while the S&P 500 closed -0.17%. Comments from Nvidia's CEO looked to help the tech sector with the stock closing 3.36% higher.
  • Japan's Nikkei 225 is trading +0.20%, while the TOPIX is +0.50% with Tokyo Electron trading 1.20% lower which has dragged the Nikkei. Focus in the region has been on the weakening yen, which has dropped 3.22% this week however held steady on Thursday.
  • China remains out until Tuesday, however Hong Kong will be trading, HSI futures are pointing to a 0.20% lower open. Property stocks were the worst performing sector yesterday and keeping an eye on the Mainland Property Index the majority of trading was done in the 1,470-1,520 area and we closed at 1,595 so a break below this area could see stops trigger and further downside.
  • Australia's ASX200 has opened 0.90% lower this morning with metals & mining contributing the most to the losses
  • South Korea will return from a Public Holiday on Thursday while Taiwan has downgraded the extreme weather that has been battering the island over the past few session which should see them also return.
  • All eyes will be on the US jobs report which is set to be a key piece of data informing the thinking of Fed policy makers and investors. According to BBG, the unemployment rate is predicted to hold steady at 4.2%, while m/m payrolls growth is tipped to be around 150,000, up slightly from the previous month’s 142,000.