Surging US Tech Futures Aid Asia Pac Sentiment

Regional equities are firmer in Asia Pac trade on Thursday, which follows a positive lead from US/EU markets in Wednesday trade. US futures have also maintained a strong positive tone during the session, with the Nasdaq leading the charge, +1.24%, while Eminis are +0.68%, last near 4477 and the simple 50-day MA on the topside. Shares in chip/AI bellwether Nvidia surged in extended trading as the company delivered stronger than expected sales for the 3rd straight quarter.

• Hong Kong markets have been amongst the strongest performers, the HSI up 1.91% to the break. The tech sub index up over 3% at this stage, its 3rd straight session of gains.
• China stocks were slow to post gains in the first part of trading, but the CSI 300 is up nearly 1% to the break. The Shanghai Composite is near +0.50% firmer.
• Tech sensitive plays like the Kospi, have also rallied, the bourse up 1%, while the Taiex +0.80% at this stage. Offshore investors have added $246.1mn to local Korean shares.
• Japan stocks have lagged, the Topix up 0.25%, the Nikkei 225 +0.45%. The head of the Japan Exchange Group stated that the benefits of a weaker yen were diminishing for Japan stocks.
• In SEA, market gains have been more limited, with bourses rising less that 1% for the most part. The Philippines is the exception, up 1.2% at this stage. The JCI is lagging in Indonesia, close to flat.