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Tech Leads The Way Higher

EQUITIES

Positive risk sentiment has boosted Asia-Pac equity markets, further support provided by strong earnings from the US after market. US Tsy Sec nominee Yellen managed to engender some benign risk sentiment with her testimony that hinted at even more stimulus spending. However gains in China were capped as markets evaluated President-elect Biden's cabinet picks' stance on China, which appears more hard line than most expected.

  • In Asia the Nikkei 225 is the laggard, down around 0.8%, dragged lower by financials and real estate. The index has rallied almost 75% since March. Hong Kong led gains in the region for a second day amid a continued inflow of mainland Chinese funds.
  • US futures are mixed, Nasdaq futures outperforming after a strong set of earnings from Netflix that saw shares spike 11% in after-market trade, tech sectors have led gains in Asia-Pac indices.
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