HSI Bounces Off August Support Levels, Japan Equities Off Lows As BoJ Holds Steady

Asia Pac equities are mixed so far in Friday trade. This comes despite negative leads from US and EU markets through Thursday trade. US futures have recovered some ground, but are only modestly higher at this stage. Eminis were last near 4380, around +0.17% higher, while Nasdaq futures were +0.23% firmer. Eminis are only a touch above fresh lows going back to early June this year.

• Positive sentiment has been evident in terms of both Hong Kong and China equities. HK markets opened weaker, but at the break the HSI sits +1.20% firmer, with the tech sub-index +2.39% higher at this stage, tracking for its first gain this week.
• The HSI appeared to find some support around the 17570/80 region, which was also close to August lows.
• The CSI is also firmer, +1.0% higher to the break, with the index back above 3700. Further efforts to boost private economy development have been highlighted by the regulator, which was also something the Premier spoke about yesterday. Another focus point has been efforts in Beijing and Shanghai to allow the free-flow of foreign investor funds (see this link for more details).
• Japan stocks are down, last off -0.20% in terms of the Topix, but we are above session lows. The yen is weaker post the on hold BoJ outcome, which is aiding exporter related stocks.
• Other markets aren't showing strong trends. The Taiex is around flat, the Kospi modestly higher. In SEA Indonesian and Philippine bourses are both in the green at this stage.