ASIA-PAC EQUITIES UPDATE: Asia-Pac stocks mostly shrug off the weak lead from Wall St but with gains capped amid light catalysts

APAC Stocks: Mostly Positive

• Asia-Pac stocks are predominantly in the green as the region shrugs off the weak lead from Wall St, but with the upside capped amid quiet macro catalysts and with a lack of tier-1 data.

ASX 200: +0.3%

• Ekes mild gains with the help of outperformance in energy, resources and real estate, but with gains limited by underperformance in tech, utilities and telecoms, while the data was uninspiring and showed a larger-than-expected contraction in building approvals.

Nikkei 225: +0.5%

• Clawed back some of the prior day's losses but with the rebound contained amid risks of a potential BoJ hike later this month.

Hang Seng & Shanghai Comp: Hang Seng +0.4% / Shanghai Comp -0.3%

• Chinese markets are mixed as participants reflect on a slew of monthly auto sales updates, while the mainland lags after the PBoC's open market operations resulted in a net daily drain of CNY 146bln.

US Equity Futures: Flat

• Lack direction with price action contained following yesterday's choppy performance.

European Equity Futures +0.1%

• Indicate a slightly positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed flat on Monday.

02 Dec 2025 - 03:19- MetalsAsian Research- Source: Newsquawk