Chinese Indices Lead The Way Higher

Risk sentiment rebounded in the Asia-Pac region despite a slight negative lead from the US. Chinese assets found favour again which was key to direction in the region, the PBOC injected liquidity for the first time since June, the CSRC held meeting with banks to assuage fears and there were reports that China will continue to allow Chinese companies to IPO in the US. These factors culminated in gains of around 1.5% for markets in mainland China, though indices are off opening highs. Gains were broad based; markets in Japan are higher by around 0.4%, moves more muted due to elevated coronavirus cases. South Korean bourses saw gains of around 0.4% helped by a robust earnings report from Samsung. US futures are mixed; e-mini Nasdaq leads the way lower with losses of around 0.3% and set to extend losses from yesterday, after market Facebook dropped after warnings of a slowdown in revenue growth. S&P futures are marginally lower while Dow futures are just keeping their head above water.