Fresh Lows All Round In Asia

Asia-Pac equity indices have maintained the bulk of their early weakness, tracking a negative, tech-led decline on Wall St., with the MSCI Asia-Pacific index on track to close at levels last seen in May ‘20.

• The Hang Seng (-1.9%) leads losses, falling to levels not witnessed since Oct ‘11 on losses across most constituents. Tech struggled, with the Hang Seng Tech Index (-2.1%) hitting fresh six-month lows, just above all-time lows made in mid-March since its creation in Jul ‘20.
• The Nikkei 225 deals 0.8% softer at writing, hitting fresh two-month lows at writing. Index heavyweights Fast Retailing (-1.4%) and SoftBank Group (-2.2%) contributed the most to drag, adding to losses observed across every industry sector.
• The ASX200 is 1.6% worse off, operating a little above its own latest two-month lows on losses across ~90% of its constituents. The materials (-2.6%) sub-index struggled, with the major miners trading between 2.0-4.4% lower at typing.
• E-minis deal between 0.4-0.8% softer apiece, back from as much as 0.8-1.4% lower earlier, but continuing to operate around multi-month lows at typing.