US Futures Tracking Higher, China/HK Markets Firm

A number of the major regional indices have tracked higher today, btu gains aren't strong, as the market awaits the NFP outcome later in the US. US equity futures are higher, buoyed by strength in Amazon in after-hours trading. The company presented a better-than-expected earnings backdrop. Eminis were last around 4537, +0.34%, with the active contract unable to sustain moves above 4540. Nasdaq futures are slightly firmer, last +0.49%.

• The other focus point has been HK/China shares, which opened strongly but now sit away from session highs. At the break, the HSI is up 0.99%. The CSI 300 is up 0.64%, the Shanghai Composite +0.47%.
• Early sentiment was buoyed by reports from late yesterday of the PBoC meeting with property developers and pledging to support finance to the private sector. The CSI 300 real estate index is around flat at this stage, but was 2.17% higher in Thursday trade.
• Officials from the PBoC, NDRC and MOF have spoken again today. Tax breaks for small businesses is being proposed, while the PBoC will utilize its full policy suite to ensure stable credit supply for the economy.
• Elsewhere, Japan stocks are a touch higher, the Topix last +0.25%. Tech sensitive plays like South Korea (Kospi flat) and Taiwan (Taiex -0.20%) have struggled though. Global tech indices have been under pressure in recent sessions maid the resurgent US yield backdrop. Offshore investors have also sold close to $1bn South Korean shares this week.
• In SEA, trends are mixed. Indian shares have opened higher, tracking +0.40% firmer at this stage.