January 17, 2023 05:06 GMT
Lower US Futures Weigh, Better China Data Fails To Inspire
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Asia Pac equities have traded mixed through Tuesday's session. A negative US futures backdrop hasn't helped sentiment, with major indices off by -0.30 to -0.50% at this stage, with the Nasdaq underperforming. Better than expected China data didn't have a lasting positive impact on sentiment.
- The CSI 300 is down slightly, -0.16% at this stage, while the Shanghai Composite is off by -0.25%. Of course, this follows strong gains yesterday (CSI 300 +1.56%), while northbound inflows have slowed back to +4.82bn yuan, from yesterday’s heady +15.84bn yuan pace.
- The HSI is tracking weaker, down 1% at this stage, with the Tech sub index down by 0.64%.
- Japan stocks are firmer, with the Nikkei 225 up close to 1.30% at this stage, with Toyota gaining after the company stated 2023 production will exceed pre-pandemic levels.
- The Kospi is off 0.70%, moving away from a test of the 2400 level. Offshore investors have sold -$88.3mn of local equities so far today, trimming week to date net inflows. The Taiex is up slightly, +0.05%.
- In SEA we are seeing contrasting fortunes, with the JCI outperforming, +1.28% at this stage, while Philippines' stocks are off by 1.20%.