Equities Mixed On Low Volume, As Lunar New Years Gets Underway

Equities are mixed today, with Japan being the out performer. Much of the market is out today celebrating Lunar New Year, while volumes were unsurprisingly low.

• Hong Kong markets only traded the morning session today and will be closed until Wednesday, while mainland China equity markets will re-open on Feb 19th. In the shortened trading day, Hong Kong equities were lower, property stocks dropped after several major buildings announced poor contracted sales in January, while Chinese education stocks soared after the Ministry of education publish a draft clarity the country's after-school tutoring policy. Heading into the break, equity indices are lower, but well off their lows of the day HSI down 0.83%, HS tech is down 1.3% while Mainland property is 3.34% lower.
• Japan equities are extending their move higher, BOJ Governor Ueda has appeared in parliament earlier today, markets are reacting positive to his statements that financial conditions will remain accommodative even after NIRP is exited. The NIKKEI is up 0.62%, while the TOPIX trades 0.20% higher.
• Australia equities are only just holding onto gains as we go into the close. RBA Governor Bullock gave her first meeting under the new format, her comments didn't deviate too much from Tuesday, not ruling out another rate hike, and mentioned inflation is still too high. The ASX200 is currently 0.08% higher.
• New Zealand equities are lower today, in large due to ANZ's view that interest rates will continue to rise in NZ from 5.50 to 6.00% this year, equities now 1.05% lower.
• Elsewhere in SEA, most market will be observing Lunar New Years, however Pakistan equities are lower while formal results of the national elections were delayed.