Mostly In The Red

Most regional equity markets are lower, although most losses are under 0.50% at this stage. US futures have stayed in the red for much of the session, although again losses have been fairly modest, Eminis last around 4173/74 (-0.15%).

• HK and China related equity sentiment has been somewhat volatile. The HSI was down over 1% at one stage, but now sits back at -0.50%. H shares are faring slightly worse at -0.70%. On-going intervention by the HKMA to curb HKD weakness is also prompting fears of higher rates, which could be weighing on sentiment, particularly in the tech space.
• Mainland shares are also offered, with the CSI 300 down 0.40%. Stake reduction plans in A-shares and H-shares is one factor being cited for the weakness.
• Japan shares look to end a strong winning streak. The Topix is off by 0.3% at this stage. If confirmed into the close, it would be the first dip for the index since April 6.
• The Kospi is seeing some modest outperformance, up around 0.4% at this stage.
• Elsewhere, the ASX 200 is flat, while most SEA markets are weaker except for Singapore shares (+0.17%). Indonesia's market is closed for the next 5 sessions (re-opening next Wednesday).