Regional Markets Mostly Tracking Higher, China/HK Lagging

Regional equity markets are mostly higher in Tuesday trade to date, although China and Hong Kong markets sit marginally lower at the break. US futures have ticked higher, with Eminis last near 4428.5, comfortably within recent ranges and close to the simple 50-day MA. Nasdaq futures sit at 15575, up ~0.18%, so outperforming at the margins.

• Sentiment has likely been aided by the uptick in US Tsy futures, with back end yields down a touch, but overall ranges remain reasonably tight as we await the US CPI print later.
• At the break, the HSI sits 0.10% lower, while the CSI 300 is around flat. The Shanghai Composite is a touch firmer (+0.10%). Tomorrow delivers the 1yr MLF decision and October activity data. China President Xi and US President Biden are expected to meet on the sidelines of the APEC summit., which may be keeping some investors on the sidelines.
• Earlier headlines crossed from BBG that the two leaders will announce a deal for China to crack down on Fentanyl production and exports.
• South Korean markets have outperformed, led by tech and battery names. Earlier, President Yoon reinforced the short selling ban (see this BBG link). Offshore and institutional investors have been buyers today, while local retail investors have sold.
• The Taiex is also higher, +0.55%, led by TSMC. Japan's Topix is +0.70%, likewise for the Nikkei 225, with a weaker yen helping at the margins, with Toyota leadings gains.
• The ASX 200 has risen 0.90, led by resource/materials names, as commodity prices rose in Monday trade.
• In SEA, sentiment is mixed.