Fresh Highs For Japan Stocks, China Property Shares Give Back Some Of Friday's Gains

Regional equities are mostly higher, with Japan stocks leading the way. China stocks have given back some of Friday's gains in terms of the CSI 300, as property stocks ease. US futures are in the red. Eminis off around 0.10% at this stage to 4283 while Nasdaq futures have fallen 0.40%.

• Higher US yields are weighing, with firmer oil prices (post the Saudi cut) and a potential US debt issuance dump (post the debt ceiling agreement), boosting yields. A headline also crossed from the WSJ, which stated US banks may face a 20% boost in capital requirements in the US, but this hasn't impacted broader equity sentiment at this stage.
• The CSI 300 is -0.45% lower at the break while the Shanghai Composite is not too far away from flat. Property related stocks have slipped, reversing some of the impressive gains from Friday, which were fueled by fresh stimulus reports. Reports indicate measures under consideration include lower down payments in parts of some cities, although fresh details didn't appear forthcoming over the weekend.
• The HSI is doing better, up 0.54% at the break, with the underlying tech index close to flat.
• Japan's Nikkei is +1.75%, hitting a fresh 33 high. Tech related plays have performed well, but momentum also appears to be a factor. Higher USD/JPY levels are also likely helping at the margin.
• The ASX 200 is up over 1%, while Indonesia markets have returned from a two-day break. We were higher in earlier trade but now sit back closer to flat for the JCI.