Tech Firms, Mixed Trends Elsewhere

Tech related plays in terms of the Kospi and Taiex have been the standout performers today. This followed strong earnings guidance from Nvidia in the US, which has also boosted US futures. Not surprisingly, the Nasdaq is leading the way, just off session highs currently, last +0.86%, while Eminis are +0.45%. Elsewhere the trends are more mixed, although note Japan markets are closed today.

• The HSI is up around 0.50% at this stage, with some positive spill over from tech moves elsewhere. The underlying tech index is +2%.
• China shares are close to flat. The CSI 300 last just above 4100. There wasn't much market impact from the headline that the authorities will push faster SOE profit growth this year, relative to GDP growth. Also note a number of schools halted classes due to covid clusters at the start of this week. This story was flagged at the beginning of the week.
• The Kospi is currently +1.1%, with offshore investors still modest sellers so far today (-$37.6mn), while the Taiex is +1.33%. Nvidia's upbeat outlook, particularly in the AI space is giving hope for the tech space amid weak chip demand elsewhere.
• India equities are struggling to stay in positive territory, while the ASX 200 fell by 0.37%.