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Regional Picture Mixed Despite Higher US Futures

EQUITIES

Once again regional equities are mixed, with China bourses underperforming, along with Indonesia. US futures are higher, led by the tech side, following Apples earnings update late in the US on Thursday. Nasdaq futures currently track 0.50% higher, Eminis around +0.40%, both indices are close to session highs.

  • Hong Kong shares are tracking higher, albeit away from best levels. The HSI last +0.64% at the break. The Golden Dragon Index rallied in US trade, buoyed by a potential Alibaba IPO, which is likely aided sentiment today.
  • Still, China mainland shares are down. The CSI 300 off 0.50% at the break. The weaker than expected Caixin services PMI, while still comfortably in expansion territory, moved off recent highs. This has taken some of the shine off the outlook at the margins.
  • The JCI in Indonesia is down over 1.4% with resource names weighing. The index continues to underperform for May.
  • Japan and South Korea markets are closed today.
  • The ASX200 is up modestly, last +0.30%.

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