Lower In Asia

Asia-Pac equity indices are mostly softer at writing, tracking a negative lead from Wall St. Tech stocks notably showed resilience despite the tech-led weakness from U.S. equities on Monday, with relevant benchmarks in China, Hong Kong, and Australia outperforming their respective, broader equity indices.

• The Hang Seng deals 0.5% weaker at writing, a little above freshly-made three-month lows earlier in the session. The finance and property sub-indices bring up the rear amongst peers, with investors little convinced by recent/potential measures such as Monday’s cut to the 5-Year LPR, and source reports pointing to ~US$29bn in special loans for delayed housing projects.
• The Nikkei 225 trades 1.2% lower, on track for a third consecutive lower daily close, extending a sharp pullback from 8-month highs made last week. The energy sector bucked the broader trend of losses observed across virtually every other peer sector, aided by an uptick in energy commodity prices during Asian hours.
• The ASX200 sits 1.0% worse off, operating around fresh two-week lows at typing. The healthcare (-1.8%) and consumer staples (-3.5%) sub-indices were by far the worst performers, easily offsetting shallower gains in commodity-related sectors.
• E-minis are 0.2% firmer apiece at writing, consolidating a little above their respective multi-week lows made on Monday.