Mixed In Asia

Most Asia-Pac equity indices are mixed at writing, with Chinese and Hong Kong markets remaining shut for the Qingming national holiday. Tech-related names across the region outperformed following Wall St’s tech-focused rally on Monday, countering broader weakness seen in other sectors.

• The Australian ASX200 trades 0.1% higher at typing, back from best levels after the RBA provided a hawkish jolt to the market in its monetary policy decision. Materials and healthcare stocks struggled, while energy and utilities sub-indices outperformed as major crude benchmarks have slightly extended gains in Asia. Technology names broadly rallied as well, with the S&P/ASX All Technology Index dealing 2.0% firmer at writing.
• The Nikkei 225 sits 0.1% better off at writing, having oscillated between gains and losses in Asian hours after opening 0.8% higher. Major export-related names such as Rakuten Group (+5.3%) are mostly higher despite the yen catching a bid, while utilities and financials equities underperformed. The overall move lower in the Nikkei comes as household spending data missed expectations earlier in Asia-Pac dealing, representing two straight months of declines and adding to worry from some quarters re: Q1 economic growth.
• U.S. e-mini equity index futures sit 0.1% weaker apiece, operating a touch below Monday’s best levels at typing.