The slightly dovish feel to the minutes covering the latest FOMC meeting, coupled with a softer USD, as well as realised and swirling expectations for further Chinese policy support, allowed the majority of the major Asia-Pac equity indices to tick higher on Thursday.
- The Nikkei 225 outperformed its regional peers after the mid-week Japanese holiday, adding just over 1.00% as we head into the close, although a firmer JPY likely capped the strength in Japanese equities.
- The CSI 300 gave back its modest, early gains with a fresh round of localised COVID restrictions in China weighing. Still, the property sector outperformed on signs of the latest step up in policy support for the sector.
- E-minis nudged ~0.2% higher against this backdrop.