ASIA-PAC EQUITY UPDATE: Asia-Pac trades mostly firmer with China outperforming after a change in policy stance

APAC Stocks: Mostly firmer

• Mostly firmer trade across APAC stocks following a negative Wall Street lead, but with eastern players reacting to China easing its overall monetary policy stance.

ASX 200: -0.6%

• Resides as the regional laggard ahead of the RBA announcement, which is expected to maintain its Cash Rate unchanged at 4.35%.

Nikkei 225: +0.2%

• Ekes mild gains amid the recent JPY weakness, but with gains capped as the currency claws back some losses in APAC trade.

Hang Seng & Shanghai Comp: Hang Seng +1.5% / Shanghai Comp +1.7%

• The regional outperformers after the Politburo said China's fiscal policy is to be more proactive next year, and monetary policy is to be moderately loose (prev. prudent), marking the first shift in the stance of monetary policy since 2011. Although bourses are off best levels ahead of the Chinese Central Economic Work Conference.

US Equity Futures: ES -0.1%, NQ -0.1%, YM -0.1%, RTY U/C

• Flat/subdued across the board following the prior day's losses, and with price action limited heading into tomorrow's US CPI metrics ahead of next week's FOMC meeting.

Euro Stoxx 50 Future: -0.5%

• Indicative of a lower cash open with the Euro Stoxx 50 future -0.5% after cash closed +0.2% on Monday.

10 Dec 2024 - 02:34- Fixed IncomeData- Source: Newsquawk