Equities Start October On the Backfoot

Some were worried that the holidays in play in both China & Hong Kong would limit activity in Asia-Pac trading, but that hasn't been the case. A negative lead from Wall St., a subsequent technical break lower in the S&P 500 e-mini contract and uncertainty surrounding U.S. infrastructure spending matters have weighed on regional equities during Friday's Asia-Pac session. The Nikkei 225 & the ASX 200 both trade ~2% softer on the day, while the major U.S. e-mini futures are ~0.5% worse off following the previously flagged technical break of short-term support. Note that September saw Wall St. lodge its worst month since the COVID-driven malaise of March '20.