Bid To Start The Week

Spill over from Wall St. trade and a focus on the potential for further positive COVID-19 vaccine announcements in the coming days seemingly supported the major regional equity indices during Asia-Pac hours, with a liquidity injection from the PBoC also adding a further leg of support for broader sentiment. Elsewhere, the formal signing of the RCEP trade pact provided another positive input for regional indices.

• These matters outweighed the negatives surrounding the political and fiscal landscape in DC, in addition the worry surrounding the U.S./global COVID outlook and realised/potential social mobility restriction in both the U.S. and Europe.
• Local economic data was mixed, with Japanese Q3 GDP topping exp. while Chinese retail sales data missed.
• E-minis pushed higher, with the NASDAQ 100 contract breaching 12,000, while the A&P 500 contract broke above 3,600.
• ASX 200 equity trade was suspended after a market data issue hampered trade, resulting in an early close on Monday.
• Nikkei 225 +1.8%, Hang Seng +0.4%, CSI 300 +0.8%, ASX 200 +1.3%.
• S&P 500 futures +28, DJIA futures +232, NASDAQ 100 futures +111.