Japan Markets Weighed By Earnings, Mixed Trends Elsewhere

Regional equity markets have been mixed in Asia Pac trade so far for Tuesday. Japan markets have been the weakest performers, but there have been pockets of strength elsewhere. US equity futures have been in positive territory, but gains haven't pushed beyond 0.30%. Eminis were last near 4250.50, +0.20% higher for the session. We remain sub the simple 200-day MA (4258) at this stage.

• Japan's Topix is weaker, but sits above session lows. The index last down around 0.65%, with the Nikkei 225 off by a similar amount. Shares in EV supplier Nidec have fallen sharply, after earnings were weaker than expected.
• Hong Kong markets have returned, and hold in negative territory at the break. The HSI is off around 0.65%. We are away from session lows though (near -1.7% loss at one stage). The properties sub index is down nearly 1%. Evergrande fell sharply in early trade, while there remains concern around a Country Garden default.
• The CSI 300 is around flat at the break. The index is up from earlier lows, with property headwinds being offset to some extent by reports of the country's sovereign wealth fund buying ETFs yesterday. SOEs are also reportedly looking at further share buy backs (see this BBG link).
• Elsewhere, the Kospi and Taiex are only down modestly. The ASX 200 is around flat.
• Indonesian stocks have curbed some recent losses, the JCI up 0.80% so far today. Singapore shares are also higher, but other parts of SEA are weaker.