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HSI Leads Regional Move Higher, As China Authorities Pledge More Policy Support

EQUITIES

Asia Pac equities are higher across the board (except Indonesia/India). The HSI and China Enterprise Index lead gains, while US/EU futures are also higher (+0.30/+0.40%), providing further support to the regional backdrop.

  • The HSI is +2.70%, with the underlying tech index +4.60%. The China Enterprise index is +3.15%. A measure of property developers surged in early trade, amid calls late yesterday from the PBoC Governor for more support for the sector. We are away from best levels though, last around +1.45% for the session.
  • Mainland stocks are also higher, the CSI last at +0.76%. State TV reported that the authorities urged the implementation of policies to support the economy and utilize existing policies more effectively, after a state council meeting yesterday. The Shanghai Composite is up a more modest 0.34%.
  • Japan stocks are higher, +0.50% for the Nikkei 225, the first gain for the index since last Wednesday. The Kospi (+0.80%) and Taiex (+1.30%) have risen more, supported by major tech index gains during the Wednesday US session.
  • Indonesian stocks are down slightly, -0.18%, we do have the BI decision later, +25bps expected. Indian stocks have also opened up weaker, down 0.35% at this stage.
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EM BulletFixed Income BulletsHomepageEquitiesBulletMarketsEmerging Market NewsForeign Exchange BulletsAT&T Market NewsBank of America Market News

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