Hong Kong Markets Falter On China Gaming Curbs

Regional equity markets are mostly positive, although gains are below US moves seen in cash trade on Thursday. Hong Kong markets faltered into the break on headlines around China gaming restrictions. US futures have given back some of Thursday's gains, but are up from session lows. Eminis were last near 4790.50 (-0.13%), while Nasdaq futures are off 0.25% at this stage.

• At the break, the HSI sits down 0.43% and well off earlier highs. The tech sub index is down 1.52%.
• This follows headlines that the China regulator will aim to curb online gaming use (see this BBG link). Tencent and NetEase have dropped sharply.
• There has been less fallout for mainland indices at this stage. The CSI 300 is up 0.74%, while the Shanghai Composite Index is +0.50%, with both indices close to session highs at the break.
• Elsewhere, Japan indices have recovered some ground. The Topix +0.45%, the Nikkei 225 up 0.20%. GPIF's CIO has stated that the fund is open to raising its allocation to stocks (see this BBG link).
• In South Korea the Kospi is +0.35%, while the Taiex is up a more modest 0.20%. In Australia, the ASX 200 is close to flat.
• In SEA, Thailand and Malaysia stocks are down modestly, while elsewhere we are seeing mostly positive gains.