China Equities Slump, Amid Likely Fresh US Investment Curbs

Regional Asia Pac equities are tracking lower to end the week. This follows negative leads from US/EU stocks through Thursday. China shares are among the weakest performers, off by a little over 1%. Likely US curbs on investment in China, have weighed. US futures have largely tracked sideways.

• The CSI 300 is off by 1%, the Shanghai Composite by a slightly more. US President Biden is reportedly looking at introducing curbs on US investment into China, within the next few weeks (reportedly with G-7 backing per BBG reports).
• The HSI has seen some negative spill over, off by 0.64%, with the tech sub-index off by 1.81% at this stage.
• The Kospi is down by 1.00%, the Kosdaq around 1.75%, as onshore analysts have warned of an over heating market amid heavy retail positioning. The Taiex is down by 0.41%, while the Topix is down around 0.30% at this stage.
• The ASX 200 is down by 0.43%, with miner BHP leading the move lower amid weaker commodity prices.
• In SEA most markets are down a touch, but note Indonesia, Malaysia and the Philippines are closed.