Positive Ending To The Week, Japan & India The Standouts

Regional markets are tracking higher, following the positive lead from Wall St on Thursday, but gains haven't been uniform. China markets have struggled to maintain a positive bias, while in SEA a number of markets are weaker. US futures are softer as well, albeit away from session lows. Eminis last near 3980 (-0.11%), while Nasdaq futures are off slightly more -0.18% (near 12040).

• The HSI opened higher, but couldn't hold firm gains. Last we sat still +0.70% higher for the session. The PBoC held a press conference, which appeared to push back against any imminent easing signals in monetary policy. This weighed at the margins.
• The CSI 300 is close to flat, while the Shanghai composite is +0.25%. The focus on the weekend if the NPC. Market expectations for this year's growth target are in the 5-5.5% range. Anything higher (say closer to 6%) could support risk appetite in the early part of next week.
• The Nikkei 225 is outperforming, up +1.66% at this stage. Better services PMI numbers helped at the margin, while prospects of a weaker yen may also aid the export sector. Today's Tokyo CPI data was a touch firmer than expected, but the economic consensus has pushed out its expectation around the timing of further BoJ action (to June).
• The Kospi and Taiex have lagged, up only modestly. Cautious guidance from Micron (around margins and pricing) may have weighed at the margins.
• Indian shares are up firmly, over 1.2%. Reports that offshore investor GQG Partners bought shares in four Adani group firms, is aiding sentiment. GQG is reported to have bought ~$1.9bn worth of shares in four of the Adani companies.
• SEA markets are a touch weaker, with Malaysia, Thia and Indonesia shares down at this stage.