China's Return Can't Stop Selloff

Another negative day for Asia-Pac equity markets, markets in the US finished mixed with the Dow eking out a small gain but other major indices finishing with minor losses.

• Chinese markets returned to the fray after LNY, initial gains were quickly wiped out and major indices now trade in negative territory. The negative sentiment quickly spread to other bourses in the region, most of which were already under pressure. The KOSPI and the Hang Seng lead the way lower, with Hong Kong officials scheduled to give a briefing on vaccination programme later today. Taiwan is the exception, up around 0.4% after rallying strongly in its first session back yesterday, there were also some reports that the US has enlisted Taiwan's help to ease auto chip shortage.
• Futures in the US are slightly lower, but off their lows as a bid in e-minis coincided with a sell off in treasuries.