Regional equity indices have moved lower...>

EQUITIES: Regional equity indices have moved lower in Asia-Pac hours, with

notable underperformance in Hong Kong on the back of the impending,

well-documented Chinese legislative changes surrounding the city state, which

became apparent during Thursday's NY session.

- Further afield, risk was switched to off ahead of the weekend, with little in

the way of positive headline flow in the final Asia-Pac session of the week.

- China's annual work report saw the country refrain from setting a GDP growth

target for 2020, while anti-Taiwan independence rhetoric and an outline of the

legal measures to be implemented re: Hong Kong security added to the defensive

feel after the report was delivered.

- The NY/Asia crossover saw White House economic advisor Kudlow stress that the

phase 1 Sino-U.S. trade deal is not dead, while Trump himself pointed to the

potential for further fiscal stimulus in late NY hours.

- Nikkei 225 -0.4%, Hang Seng -3.9%, CSI 300 -1.3%, ASX 200 -0.6%.

- S&P 500 futures -16, DJIA futures -135, NASDAQ 100 futures -53.