Weaker Hong Kong Tech Weighs On Risk-On Mood

Regional Asia Pac markets are mostly higher, albeit not to the same degree as implied by gains in US/EU bourses from Thursday's session. Hong Kong equities are down as well, which has likely weighed on sentiment to some degree in the region today. US equity futures have tracked mostly higher, with the tech space leading the way. Nasdaq futures last +0.22% to 13924. Eminis are ~0.14% higher, last around 4218.

• The HSI is down around 1% at this stage, although we are above earlier session lows. Carry over from weaker Alibaba sentiment in US trade on Thursday has weighed (revenue growth from the company left investors disappointed). The HS TECH index is off 1.80% at this stage.
• China shares were weaker at the open but have clawed back into positive territory, the CSI 300 last around +0.20%.
• Japan shares remain on the front foot, albeit with gains slowing somewhat. The Topix +0.10% at this stage. The Nikkei 225 is faring better, last around 0.80% higher, back to early 1990s highs.
• The Taiex (+0.40%) and Kospi (+0.80%) have both risen, on the back of better tech sentiment from Thursday's session in the US. Offshore investors have added a further $269mn to local Korean shares today.
• In SEA, Thai shares remain under pressure, down a further 0.30%, but they may find some support ahead of the 1500 level.