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Mostly Lower After Negative Lead From US

EQUITIES

Another mixed day in Asia-Pac equity markets after a negative lead from the US as strong data fueled concerns stimulus will be withdrawn. Markets in Japan are lower, data earlier showed household spending rose 13.0% Y/Y in April, above estimates of 8.7%. Markets in mainland China are modestly lower, US President Biden signed an order yesterday which amends a ban on US investment In Chinese companies with military links, extending a Trump era policy. Markets in Taiwan and South Korea are lower, weighed down by tech stocks after the Nasdaq lagged its peers on Thursday. US futures also slightly softer, markets await NFP data later in the session.

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