Sentiment More Positive, Aided By Nasdaq Future Gains

Regional equities are mostly higher in Asia Pac Friday trade to date. All the major indices are firmer, albeit away from best levels. Some parts of SEA are tracking weaker though (Philippines and Thailand). Weakness in Thursday US and EU cash trading has been offset by a better tone to US futures today, led by Nasdaq gains (0.80%). Eminis are also higher, last near 4180, +0.55% for the session.

• Better momentum for Amazon and Intel who posted positive earnings updates in late in US trade on Thursday has aided the futures backdrop.
• Japan's Nikkei 225 is +1.2% higher, the Topix near +1.1% firmer. The electrical appliances sector is leading gains, while BBG notes Japan equity short bets may be close to a peak (see this link).
• Other markets in NEA are more muted. The Kospi opened higher, but is now back to flat. Foreign selling continues to outpace institutional and retail buying. The Taiex is around 0.50% higher.
• In Hong Kong the HSI is up 1% at the break, while the CSI 300 also continues to firm, up 0.60%.
• In SEA, the Philippines PCOMP is off a further 0.80% to sub 6000. Fallout from yesterday's off-cycle rate hike weighing. In Thailand, the MoF has revised down its 2023 growth forecast to 2.7% (from 3.5%, RTRS), with the SET down by around 0.30% at this stage.