Mostly Higher In Asia On Lead from Wall St., ASX200 Receives Boost From Lowe

Most major Asia-Pac equity indices are in the green, seeing the MSCI AC Asia Pacific deal >1.0% firmer at typing, with sentiment in high-beta equities across the region lifted by the tech-led rally in Wall St. on Wednesday, benefitting from a continued easing in crude prices as well.

• The Nikkei 225 sits 2.0% firmer, outperforming regional peers, with nearly all of the index’s constituents in the green at writing (218 of 225). Large caps such as Fast Retailing (+1.5%) and Tokyo Electron (+2.4%) contributed the most to gains, adding to broad outperformance in exporters and healthcare names.
• The ASX200 trades 1.6% higher at typing, extending an earlier bid amidst a speech (and Q&A) from RBA Governor Lowe suggesting a case for a slower pace of rate hikes, keeping in mind prevailing uncertainty re: the degree of tightening to be deployed by the RBA in this cycle. Tech equities lead gains, with the S&P/ASX200 All Tech Index hitting fresh one-week highs after adding 2.7%.
• The Hang Seng Index deals 0.4% worse off at writing, off worst levels, but operating just above Wednesday’s six-month lows. The utilities and finance sub-indices lead the way lower, worsening a poor showing from large-cap Tencent Holdings (-2.2%) after the latter offered to double its stake in video game company Ubisoft.
• E-minis sit flat to 0.1% better off at writing, holding on to the bulk of their respective rallies (between 1.3-2.0%) observed on Wednesday.