Hong Kong Index Close To Recent Lows, Despite Caixin PMI Beat

Regional equities are mixed in the first part of Asia Pac Friday trade. Hong Kong and China markets are weaker at the break, despite a Caixin manufacturing PMI beat. Trends are mixed elsewhere. US futures sit modestly lower at this stage, having tracked tight ranges for much of the session. Eminis were last near 4574, -0.07%, while Nasdaq futures sit off 0.20%, at 15953.

• US yields recovered from an earlier dip, while US real yields rebounded on Thursday, which may be tempering equity sentiment to a degree. This comes ahead of more US data (including ISM) and Fed Chair Powell speak later.
• At the break, the CSI 300 is off 0.91%, with the real estate sub index off a more modest 0.36%, although this the 6th straight session loss for the index. BBG noted that sales data from the top 100 real estate companies continued to show weakness in homes sales through Nov.
• The HSI is off 0.69% at the break. The index is not too far from recent lows sub 16900. The Caixin PMI beat only provided a brief respite for sentiment.
• Japan's Topix is up 0.50%, while the Nikkei is closer to flat. Earlier data showed better company profits data for Q3, while capex data points to positive GDP revisions next week.
• The Kospi is underperforming, down 1%, with offshore investors selling local stock. The Taiex is close to flat.
• In SEA, most markets are firmer (gains are under 0.50% though), although Indonesia stocks are down 0.45% at this stage.