China Recovers Early Losses

Most equity markets in Asia higher, mainland China markets recovering early losses and post gains of around 1.5%. The rise comes despite the latest reports of a crackdown on the tech sector with regulators demanding large tech companies fix a range of issues in the internet industry. Japanese markets were higher from the open, recovering most of Friday's loss, the rise was attributed in part to a decline in US yields with sentiment also boosted by the approach of the US infrastructure package. Other regional equity markets also gained with PMI data showing that while activity mostly slowed it remained expansionary. US futures are higher, coming off the back of a slightly negative close last week. Still, the S&P 50 finished July with gains for the sixth month in a row. Markets will watch another week of earnings as well as the US infrastructure bill.