Few Positives Outside Of China Housing Related Stocks

Regional equities are ending the week on a softer note, in line with US losses overnight and with futures struggling to stay in positive territory today (last around -0.25-0.30% for Eminis). Losses haven't been as large as earlier this week, in aggregate terms.

• The Nikkei 225 is off 1.9% at this stage, while Taiwan stocks are down by around 1%. Larger tech losses in the US have weighed, with concern around the demand outlook, given recent company announcements (Apple, Micron etc).
• The Kospi is away from worse levels, last (-0.35%). Earlier, President Yoon called for greater vigilance around market volatility and stated stabilization moves could be implemented.
• China main indices are down slightly, the Shanghai composite -0.20%. The property sub-index has rebounded +2% on reports that around 20 cities will be able to cut interest rate on loans for primary residences. Note China markets are closed for all next week due to Golden Week celebrations.
• HSI is around flat, the tech index is right around lows from March of this year.
• The ASX 200 is off by 1.4%. Note that it is a long weekend for this market, with Sydney having a public holiday on Monday.