Regional Equities Track Higher, PBoC Pledges Policy Support

Regional equities are tracking higher, albeit with less positive impetus compared to recent sessions. US equity futures are mixed, with Eminis down a touch to 4541, although we are above session lows of 4534.50. Nasdaq futures are a touch higher, last 15724.

• The HSI started higher, but is back sub 19400 at the break, still +0.25% above closing levels from Thursday. The tech sub index is down -0.40%, possibly ending the strong positive run seen this week.
• The PBoC had a press confidence where it pledged to support the economic recovery with available policy tools. The authorities also stated that it would tailor support for the property sector.
• The CSI 300 is +0.17% at the break, holding above 3905.
• Elsewhere, the Kospi and Taiex are both +1% higher, buoyed by recent tech gains amid the core yield pull back. The Kospi is now back above the 2600 level. We aren't too far off early June highs around 2650.
• The ASX 200 has climbed 0.83%, with the Australian Government picking Deputy Governor Bullock to replace Phil Lowe as Governor, which should ensure policy continuity.
• SEA markets are in the green, except for the Philippines (-0.50%). Thai stocks are +1% firmer, despite continuing uncertainty as to who will be the new PM.