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China Tech Stocks Extend Rally


Equity markets in the Asia-Pac region were mostly higher on Wednesday, shaking off a negative lead from the US. In China the CSI 300 is up over 1.75%, while the Hang Seng has gained around 0.75%, tech stocks have rallied for a third day. Caixin PMI data slipped into contractionary territory, increasing speculation of another RRR cut in the coming months. Bourses in Japan are higher, data earlier showed capex rose more than expected in Q2 at 5.3%. Other markets in the region have fluctuated between minor gains and minor losses. In the US futures are higher, major indices gaining around 0.3% heading into the European open after slipping on Tuesday. PMI surveys are due later today while August US ISM Manufacturing data is also on the docket Wednesday. ECB's Weidmann and Fed's Bostic are both due to speak.

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