Mostly Lower In Asia Against Broader Defensive Feel

The major regional equity indices stuck to relatively narrow ranges during Asia-Pac hours, although some idiosyncracies were apparent. More broadly, caution on the Brexit front, some geopolitical tension surrounding recent goings on in Hong Kong & wider COVID-related worry provided a defensive feel to the session.

• The Nikkei 225 underperformed on the back of COVID worry in Tokyo and fear surrounding subsequent implementation of fresh social restrictions in the capital.
• China's mainland shares found themselves on the other side of the ledger, aided by rhetoric from President Xi, who reiterated the focus on the dual circulation strategy and boosting domestic demand.
• E-minis were lower for most of the session but operated within tight ranges. This comes after wider/deeper social restrictions across the U.S. outweighed the positives surrounding Pfizer's COVID vaccine on Wednesday, leaving the major Wall St. indices comfortably lower come the close of cash trade.
• Nikkei 225 -0.9%, Hang Seng -0.6%, CSI 300 +0.4%, ASX 200 -0.1%.
• S&P 500 futures -5, DJIA futures -45, NASDAQ 100 futures -45.