Very little to pen for the major regional....>

STOCKS: Very little to pen for the major regional indices during Asia-Pacific

trade, with the notable benchmarks sitting unchanged to a touch higher.

- A modest 5bp trimming of the PBoC's 1-Year LPR (and unchanged fixing for the

5-Year LPR) did little to boost risk appetite, and was probably viewed as being

somewhere towards the lower end of exp., rounding off a relatively disappointing

week on the easing front, with MLF & reverse repo op rates unchanged, and a

small net liquidity drain of CNY15bn on the week. N.B. this is likely viewed as

a broader package of measures, alongside the recent RRR reduction, as the PBoC

continues to point to prudent MonPol with a desire to avoid flood like stimulus.

- Nikkei 225 +0.4%, Hang Seng unch., CSI 300 +0.2%, ASX 200 +0.7%.

- S&P 500 futures +3, DJIA futures +25, NASDAQ 100 +17.