Hang Seng Rebounds, Japanese Bourses Soft

Another day and another session of mixed performance for equity markets in the Asia-Pac region. Markets in mainland China are up by around 0.4% after a flat finish yesterday, late Tuesday earnings from Alibaba showed the firm's revenue missed estimates for the first time in more than two years. The Hang Seng leads the way higher with gains of 1.3%, Tencent is recovering from a sharp drop yesterday stoked by renewed regulatory concerns. Most other markets in EM Asia seeing gains. Markets in Japan are lower to the tune of 0.2% but off session lows, pressured by COVID-19 concerns and weighed by SoftBank who sold off after reports that the sale of one its units to Nvidia could be blocked. In the US futures are hovering around neutral levels, markets await US ADP employment data as a precursor to US NFP data later in the week, as well as further PMI survey data and another busy day of earnings.