Japan Outperforms, HK Tech Back Below 200-Day MA

(MNI Australia) Regional equities are a mixed bag today. Japan stocks have outperformed as Ueda's confirmation hearing took place. China and HK equities have continued to weaken though. US futures are modestly lower, but ranges have been tight overall, ahead of key US inflation data later.

• The Nikkei 225 is tracking +1.15% higher at this stage. New BoJ Governor nominee Ueda struck a balanced tone, with no shocks relative to market expectations. USD/JPY dips were generally supported, with Ueda not hinting at any imminent policy shifts.
• The HSI is off around 1.20% at this stage, with the tech sector down 2% at this stage and the index is tracking below its 200-day MA. Mixed earning results and greater competition concerns has clouded the tech backdrop this week.
• The CSI 300 also continues to correct lower, last down -0.90%. On-going tensions with the US, reflecting both Taiwan (potential for more US troops to be based there, although Taiwan officials denied this) and Ukraine issues (extent of alleged China support) are likely weighing at the margin as well.
• The Kospi (-0.50%) and Taiex (-0.25%) are both lower as well. Thailand stocks remain underperformers, down 1% at one stage. Offshore investors continue to sell Thai stocks (nearly $1bn in outflows in Feb to date).