A typical lacklustre pre-NFP session for...>

EQUITIES: A typical lacklustre pre-NFP session for Asia, in the wake of similar

trade in the U.S. on Thursday, as participants took a step back after the recent

face ripping rally. The major regional indices trade either side of unchanged,

with e-minis edging higher.

- Familiar risks remain evident in the background, with various valuation

metrics elevated, especially those that are based on forward earnings, given the

lack of clarity re: the post COVID-19 world. Still, the recent rally has been as

much about the major global central banks having the market's back as it has

about the phased economic re-opening trend that has been seen across the globe.

- Nikkei 225 +0.3%, Hang Seng unch., CSI 300 -0.1%, ASX 200 +0.2%.

- S&P 500 futures +12, DJIA futures +120, NASDAQ 100 futures +21.