Negative US Tech Lead Doesn't Deter Asia Sentiment
Regional equities are mostly higher, despite an indifferent lead from US markets on Tuesday and negative trends in futures during today's session. Markets re-opening from the LNY break, like South Korea and Singapore have rallied, playing catch up with the firmer trend through Friday/Monday in offshore markets.
- US futures are down close to 0.4% for the S&P, near -0.7% for the Nasdaq, although we are away from worst levels. A weak revenue update from Microsoft, particularly in its could business, has weighed today.
- Still, the Nikkei 225 is +0.40% at this stage, moving above levels that prevailed pre BoJ in mid December last year.
- The Kospi is +1.33%, with offshore investors adding $490.1mn to local equities, in the first session of trading since last Friday. The Straits Times in Singapore is +1.80% at this stage.
- The ASX 200 is down slightly at this stage, while Indian indices have fallen 0.60/0.70% in the first part of trade, as weakness in the Adani Group weighs.