Hong Kong & South Korea Off More Than 2%

Regional equities are mostly lower, with sharp losses evident for Hong Kong bourses and South Korean shares. Japan shares have outperformed but sit well off earlier highs. US futures are lower, with Eminis down over 0.20% at this stage, last near 4788, while Nasdaq futures have lost a little over 0.30%. This follows generally negative leads from US and EU cash trading on Tuesday.

• At the break, the CSI 300 is off 2.8%, with tech stocks underperforming. The tech sub index is down nearly 3.9%. China Q4 and Dec activity data were mixed. Property related measures finished poorly though, while home price losses accelerated in Dec. The Golden Dragon index fell heavily in Tuesday US trade (-3.81%).
• The CSI 300 is off 0.73% at the break, with similar headwinds in play.
• The Kospi has slumped a further 2.4%, continuing its pull back after making fresh highs near the start of the year. Offshore investors have sold a further -$565.2mn in local shares.
• Japan indices are marginally higher, but well off earlier highs. The Taiex is down 0.80%, the ASX 200 off around 0.50% at this stage.
• in SEA, markets are all weaker, although losses are generally under 1% at this stage.