Japan Stocks Gain Post BoJ, China/HK Bourses Gain

Regional equities are mostly tracking higher, following firm gains for US stocks through Thursday trade. US futures have drifted lower through the course of the session, but losses are modest, last around 0.10% for eminis, -0.20% for Nasdaq futures.

• Japan stocks have firmed, the Topix around +0.70%, aided by an unchanged BoJ, with arguably some dovish rhetoric in terms of the review stance. USD/JPY got close to 135.00 but is now lower. Not surprisingly, Japan bank stocks have suffered post the BoJ, the Topix bank index off 2.4% at one stage.
• China and HK shares are higher, the HSI by nearly 0.90%m while the CSI 300 up around 0.75%. The Golden Dragon index firmed in US trade for the second session. Reports of potential efforts to lower US-China tensions may be helping at the margins. The Cyberspace regulators is also launching a 3 month campaign to protect Internet companies legal interests.
• South Korean shares are underperforming, the Kospi down 0.20%, the Kosdaq off 1.10%. The FSS is meeting with heads of local brokerages to increase oversight of retail investors.
• In SEA, markets are more mixed, with Indonesian stocks down slightly, unwinding a touch of Wed/Thur gains. Philippines stocks are doing better, +0.70% of talk of rate pauses and RRR cuts by mid year.
• The ASX 200 is close to flat.