Most Regional Markets Down To Start The Week

Regional equity markets are mostly in the red today, despite a positive lead from US markets on Friday. Losses are modest for the most part, while there are some pockets of strength. Still, weighing has been a pull back in US equity futures, with Eminis off 0.45%, last near 4410.5. This puts the index back sub its simple 50-day MA. Nasdaq futures are slightly weaker, down 0.50%.

• There doesn't appear a fundamental driver of these moves, although proximity to Tuesday's CPI data may be a factor. US Tsys futures are also threatening to break lower.
• Hong Kong and China markets tried to push higher, but are tracking lower at the break. The HSI -0.14%, while the CSI 300 is down 0.52%. There was a blip higher in sentiment as headlines from BBG crossed that the China authorities were considered ending a sales freeze on Boeing, which would be a further sign of improved US-China ties.
• This comes ahead of this week's APEC meetings in San Francisco, with China President Xi and US President Biden to meet on Wednesday.
• The Kospi tried to go higher at the open but is now back to fat (against early gains of 1.1%). Japan indices are also close to flat.
• The Taiex is outperforming, up 0.80%, with TSMC aiding the move amid positive sales growth, while the 4% rise in the SOX in US trade on Friday has also helped.
• In SEA, most markets are down, although Indonesian stocks are modestly outperforming. Thailand stocks are down 0.70%, with sentiment likely weighed at the margin by internal disagreement over the government's digital wallet plan.