Negative Spillover From US Losses Hits Asia Pac Markets

Asia equity markets are down across the board today, following the negative lead from Wall St on Tuesday. Fresh banking concerns have weighed on financial related plays today, although China markets are still closed, while Japan is off for the rest of the week, which has likely dampened liquidity to some extent. US equity futures have crept higher this afternoon, albeit just back into positive territory. This hasn't impacted sentiment much, as the market awaits the Fed decision later.

• The HSI is down 1.75% at this stage. The tech sub index was off by nearly 3% at one stage. Losses have been fairly broad based though. Note the China Golden Dragon Index lost 3.63% in Tuesday US trade. The HS China Enterprises Index is down by 1.91% at this stage.
• In Australia, the S&P200 is off by 1.40%, as local bank stocks are hit from negative US spillover. NZ markets are also off by more than 1%, not buoyed by resilient Q1 employment figures.
• The Kospi is down by over 1.00%, the Kosdaq 1.40%, while the Taeix has fared slightly better, down by 0.50% at this stage.
• In SEA markets are tracking lower, with the commodity sensitive JCI off by over 1%. Other markets are down but losses haven't been larger than 1% at this stage.