Higher In Asia On Outperformance In Tech; Commodity Benchmarks Hit Multi-Month Lows

Virtually all Asia-Pac equity indices have caught a bid, tracking a lead from Wall St. tech-based names were mostly higher while commodity-related equities region wide sold off for another day, with BCOM (-0.2%) operating around freshly-made three-month lows at writing.

• The Nikkei 225 sits 0.8% better off at typing, with the broader TOPIX Index lagging (+0.5%). Large-caps Tokyo Electron and Shin-Etsu Chemical contributed the most to gains in the index, while energy and utility names lagged. Elsewhere, The Mothers Index (of high growth and emerging stocks) outperformed, adding 5.4% at typing with ~80% of its constituents in the green.
• The Hang Seng Index outperformed to add 1.5%, operating around two week highs at typing on gains across virtually all sub-indices. The Hang Seng Tech Index sits 3.0% firmer at writing, hitting fresh session highs on an extended rally in Chinese EV makers and China-based tech.
• The ASX200 trades 0.4% higher, with the index on track this week to snap a two-week streak of losses (during which saw the index shed 10.6% to hit 19-month lows). Healthcare and tech-based names lead gains, with the S&P/ASX All Technology Index sitting 5.1% better off at writing.
• U.S. e-mini equity index futures deal 0.4% to1.0% firmer at typing with NASDAQ contracts outperforming, reflecting outperformance the cash index on Thursday’s NY session, as well as the bid in tech-related names over the Asian session.