China COVID Worry & European Gas Fears Drive Sentiment

Below gives key levels of markets in the second half of the Asia-Pac session:

• Nikkei 225 up 335.12 points at 26854.25
• ASX 200 down 67.909 points at 6610.1
• Shanghai Comp. down 48.849 points at 3307.229
• JGB 10-Yr future down 30 ticks at 148.94, yield down 0bp at 0.244%
• Aussie 10-Yr future down 5.5 ticks at 96.420, yield up 5.6bp at 3.535%
• U.S. 10-Yr future +0-02 at 117-22, yield up 0.75bp at 3.088%
• WTI crude down $0.84 at $103.95, Gold down $0.59 at $1741.81
• USD/JPY up 85 pips at Y136.95
• BIDEN YET TO DECIDE ON TARIFFS, CALL WITH XI LIKELY IN COMING WEEKS
• FRANCE’S LE MAIRE: TOTAL RUSSIAN GAS CUTOFF IS ‘MOST LIKELY’ SCENARIO (POLITICO)
• CANADA TO RETURN REPAIRED NORD STREAM 1 TURBINE, EXPAND SANCTIONS ON RUSSIA (RTRS)
• ECB’S HOLZMANN FORESEES STEEP RATE HIKES TO STEM FAST INFLATION (BBG)
• ‘STRONG’ ECB CRISIS TOOL COULD STAY ON SHELF, STOURNARAS SAYS (BBG)
• TAX PROPOSALS AT CENTRE OF RACE TO BECOME UK PM AS TORY RUNNING LIST SWELLS
• JAPAN’S LDP TIGHTENS GRIP ON UPPER HOUSE IN ELECTIONS
• COVID WORRIES AND FINES FOR BIG TECH WEIGHS ON CHINESE EQUITIES