Major Indices Mostly Lower Or Close To Flat

Regional equities are mixed, albeit with the markets in the red outweighing those bourses which are higher. China shares are tracking lower, while HK is proving more resilient. US futures have stayed in the red through the session, with tech slightly weaker. This has likely kept a cap on markets around the region that have tried to push higher.

• The CSI 300 is off by 0.64%, the Shanghai Composite by 0.70% at this stage. Lower banking stocks are weighing, while the CSI 300 has pulled back from a test of the 4200 level.
• Still, Northbound stock connect flows remain positive at this stage, +2.72bn yuan.
• The HSI is +0.19% at this stage, so outperforming at the margins.
• The Topix is around flat, while South Korean (-0.50%) and Taiwan (-0.12%) shares are tracking modestly lower. This is line with weakness in tech related indices through US trade on Wednesday. Offshore investors have sold -$226.5mn of local Korean shares today.
• Indian shares are a touch higher, but lower in Malaysia, Singapore and Thailand. Philippines shares are one of the few bright spots, +0.59%. Shares of BDO, the nation's largest bank continued to rally after strong Q1 results yesterday.