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HK/China Gains Offset Weaker Lead From US Futures


Regional equities are higher, led by gains in HK/China. Markets in the region are outperforming a negative lead from US futures, particularly in the tech space, after disappointing earning updates post the NY close. Nasdaq futures are off close to 1.9% at this stage, Eminis near -0.90%.

  • The HSI is up around 2.2%, with dips buyers likely supporting sentiment. Gains have been led by the tech sector, which is up by 4% at this stage.
  • Comments from China regulators, including PBoC, SAFE, CBIRC and CSRC around ensuring a healthy development of China's financial markets, from late yesterday, has likely aided moves. The CBIRC stated local capital markets have 'long-term investment value’, as reported by Bloomberg.
  • The CSI 300 is up 1.60%, while the Shanghai Composite is up 1.40%.
  • South Korean shares have shrugged off a negative US tech lead to be up close to 1% for the Kospi. Samsung posted better than expected earnings, while SK Hynix disappointed, although shares in the company were still higher, as the market embraced investment cut plans for next year. The Taiex is up 0.60%, led by TSMC gains.
  • The ASX 200, is up smalls (+0.10%), lagging better regional sentiment.

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