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EQUITIES

Most major Asia-Pac equity indices are lower at typing, bucking a positive lead from Wall St., with the MSCI Asia Pac index on track to break a three-day streak of losses.

  • The Nikkei sits 0.2% better off at writing, bucking the broader trend of losses and narrowly building on Wednesday’s 2.7% higher close. Financials and real estate equities pared losses in the wake of the BoJ’s monetary policy announcement, adding to earlier gains in industrials and major exporters.
  • The Hang Seng brings up the rear amongst regional peers, dealing 1.4% weaker at typing. The financials (-2.1%) and property (-2.3%) sub-indices contributed the most to drag in the index, coming under pressure from the latest round of worry surrounding Chinese real estate, with suppliers and homeowners across hundreds of projects continuing to withhold payment of bills and mortgages.
  • The CSI300 sits 0.5% weaker at typing, with shallow losses across most sectors dragging the index lower (although the CSI300 Real Estate index predictably leads losses at -2.7%). Chinese tech stocks outperformed (particularly chipmakers), seeing the STAR50 index trade 2.0% higher, with participants eyeing an upcoming Biden-Xi call, and progress towards the lifting of U.S. tariffs.
  • The ASX200 is virtually unchanged at typing, with gains in tech and healthcare equities neutralised by losses in commodity-related sectors. While the S&P/ASX All Tech Index deals 2.7% firmer at typing, a decline in major crude benchmarks and industrial metals has seen the likes of the major miners trade 1.7-3.3% lower, with the energy sub-index (-3.2%) leading losses.
  • E-minis are off worst levels, sitting 0.1-0.3% weaker apiece at typing.

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