Nikkei 225 Hits Fresh Highs Before Pulling Back, HK/China Indices Firmer

Regional Asia Pac equities are mixed to start the week. Hong Kong and South Korean markets are the best performers, while China markets have recovered after an early stumble. Trends are mixed elsewhere though. US futures are down a touch at this stage, more so for the Nasdaq (-0.25%), while Eminis are off nearly 0.1% at this stage.

• Hong Kong and China related equities have been in focus. The HSI is up 1.5% at the break, while the HS China Enterprise index is near 1.8% higher. Much focus has been on the headlines (BBG) that crossed from late last week where the China regulators vowed to meet property developers funding needs.
• Still, property sub indices haven't led the move higher. The Hang Seng Mainland Properties index is +1.27% firmer at this stage. The CSI 300 real estate index is down a touch at the break. The broader CSI 300 headline index is +0.41%.
• Tech related indices are doing better, the HS Tech sub index +2.13% higher to the break.
• Japan shares are underperforming. The Nikkei 225 hit a fresh 33yr high in early trade, but now sits around 0.55% weaker. The Topix is off 0.80%. A firmer yen, with USD/JPY falling back sub 149.00 is likely weighing at the margins. Weakness in Toyota is evident.
• South Korean shares are nearly +1% higher in terms of the Kospi, although the Taiex is lagging, down 0.20%, after outperforming last week.
• Most markets in SEA are down, although losses are less than 0.50% at this stage. Indonesia's JCI is outperforming modestly, up 0.20%.