Japan Stocks Recover As BoJ Stays On Hold, CSI 300 Nears 200-day MA Upside Test

Most Asia Pac equity indices are tracking higher for the Friday session. Japan equities have recovered from lows pre the lunchtime break, as the BoJ held steady in terms of policy settings. China and Hong Kong equities are also firmer, but trends in SEA are more mixed. US futures are weaker, but away from session lows (Eminis last near 4466.50, -0.10%).

• The Nikkei saw support prior to the lunch break near 33200, but post the break haves't been able to rebound beyond 33600. This leaves us below highs from earlier in the week near 33800. The BoJ left policy settings unchanged, but there will be focus on Ueda's press conference later.
• The HSI is up 0.73% to the break, while the CSI 300 is up 0.44% at the stage. In index terms we just below 3943, which is multi-week highs. The simple 200-day MA, around 3952, is not too far away. We may see a China State Council meeting later today to discuss further stimulus options.
• The Kospi has rebounded 0.55% so far today, but the Taiex is down 0.25%, in line with a weaker SOX trend from US Thursday trade.
• In SEA markets, Malaysia stocks are weaker -0.50%, maintaining a recent underperformance trend. Indonesia stocks are also down, -0.45%.