Mixed Session Ahead Of China Holiday

A mixed day for equity markets in the Asia-Pac time zone; as a reminder China will observe a weeklong holiday starting tomorrow, with mainland markets returning on Friday Oct 8. Hong Kong returns on Monday Oct 4. Markets in Hong Kong came under pressure, shedding over 1%, tech shares were out of favour after a negative lead from the Nasdaq. Markets in mainland China are higher, data earlier showed official manufacturing PMI slipped to contraction for the first time since May 2020, but official non-manufacturing PMI and Caixin manufacturing PMI both rose. Markets in Japan lost ground, a reshuffle of the Nikkei and uncertainty ahead of new leadership kept investors on the sidelines; former foreign minister Fumio Kishida was appointed as new leader of the LDP. Markets in Australia topped the performance tables, mining stocks getting a boost as iron ore rallies with Chinese steel mills stocking up ahead of the holiday. In the US futures are higher, e-mini Nasdaq leading the way higher after the index declined yesterday. Central bank speaker events remain frantic, with Fed's Powell appearing again in front of lawmakers as well as speeches from Williams, Bostic, Harker, Evans and Bullard.