Mixed Start To The Week For Asia Pac, US Futures Higher

Regional Asia Pac equities have started Monday trade in a mixed fashion. Japan markets and parts of SEA are softer, while China and South Korean markets are trading more resiliently. US equity futures have started the week higher. Eminis last near 4152, +0.33%, while Nasdaq futures are outperforming modestly, last up 0.51%.

• Oil prices are lower, with some reports (BBG) suggesting the Israel ground invasion into Gaza was not as strong as feared. The move lower in oil has aided risk appetite more broadly, including curbing USD sentiment.
• In China markets, the CSI 300 is up a further 0.67%, tracking above 3586 in index terms. The ChiNext is also up strongly (+2%). A key financial forum kicks off today in China, where LGFV's and property market risks will be discussed. China's number 2 military head also stated that the country will develop military ties with the US (RTRS), which may be signs of a further thawing in tensions with the US. Hong Kong markets are down, but away from session lows (HSI last -0.28%).
• Japan markets are weaker, off -0.85% for the Topix as tomorrow's BoJ meeting comes into view. No major policy changes are expected, although it is likely to be a close call.
• South Korea's Kospi is higher, +0.55%, in line with higher beta markets outperforming. The Taiex is +0.20%.
• In SEA, Indonesia and Malaysian shares are lower. Thailand and Singapore are modestly higher.