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Green In Asia After US Indices Rally

EQUITIES

Asia-Pac equities took a positive lead from the US, all major indices are in the green. Risk on tone has been supported by a number of developments overnight. The PBOC injected funds to help alleviate the liquidity crunch, a senior Chinese diplomat said the relationship between the US and China should be put back on a more constructive track and in the US officials are said to have made progress towards a coronavirus relief bill.

  • Equity markets in South Korea and Taiwan lead the way higher, in the former foreigners are on track for the second day of inflows, after four consecutive sessions of outflows. The tech heavy Taiex in Taiwan also saw strong gains ahead of earnings from Amazon and Alphabet today.
  • US futures are higher, e-mini S&P up around 0.6% at the time of writing after adding 1.65% by the close yesterday in the biggest rally for 10-weeks. Nasdaq futures outperforming ahead of the aforementioned earnings.