Hong Kong Markets Rebound Ahead Of China's Return On Monday

Most Asia Pac markets are firmer in Friday trade to date. Gains have been led by Hong Kong markets, with more modest gains seen elsewhere. Japan markets are more mixed. US futures have traded relatively tight ranges. Eminis were last near 4289, down slightly, while Nasdaq futures were flat. We do have the US Non-farm payroll print coming up later in the US time zone.

• The HSI is around +1.85% firmer, slightly down on session highs. Gains have been broad based, although liquidity has been quite low. However, there is optimism around the return of China markets next Monday.
• On balance, China data has been better than expected of late, which has seen some sell-side analysts upgrade growth projections. Anecdotes around strong China spending over this week's holiday period is also aiding sentiment. The HS China Enterprise index is up 1.90%.
• Japan stocks are mixed, the Topix is +0.15%, but the Nikkei 225 off -0.30%. Both the Kospi and Taiex are around 0.35% higher at this stage.
• Australia's ASX 200 is +0.50%, buoyed by the materials sector. The large miners are higher after headlines crossed that China's iron ore buying conglomerate (China Mineral Resource Group) is in talks with the companies over next year's supply.
• SEA markets are mostly higher, with Thailand stocks lagging modestly.