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Mixed As PMI's Slow

EQUITIES

Another mixed session for equity markets in the Asia-Pac region. Markets in Japan are lower but off worst levels, liquidity was said to be thin which exacerbated the move lower. Markets in mainland China are also lower, the PBOC late yesterday raised RRR from 5% to 7% effective June 15, Caixin manufacturing PMI was in-line with last month at 52.0. The Hang Seng has managed to squeeze out some gains ahead of retail sales data later today. Manufacturing PMI figures in the region also negatively hit sentiment with many citing an uncertain outlook due to the latest wave of the pandemic. Markets in South Korea were boosted by another bumper set of exports in trade balance data. In the US future are marginally higher with liquidity still thin as participants are set to return from a long weekend.

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