Mild Risk Aversion

A negative day for equity markets in the Asia-Pac region amid some mild risk aversion as markets digest recent comments from FOMC Chair Powell and US Tsy Sec Yellen as well as contemplate elevated coronavirus numbers with the delta variant a particular cause of concern. Bourses in mainland China are lower, the CSI 300 down around 0.6%, US President Biden earlier said the Hong Kong situation was deteriorating and said the US are to sanction Chinese officials and give US companies an advisory. In Japan markets are lower, the BoJ kept rates on hold as expected and kept forecasts broadly in line with expectations. Markets in Australia and New Zealand are slightly lower, the NZX 50 coming under pressure after a bumper CPI print added fuel to the hawkish RBNZ narrative. Futures are lower in the US, markets look ahead to retail sales data and a speech from Fed's Williams later today.