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On The Defensive

EQUITIES

The previously alluded to uptick in new daily Chinese COVID cases, as well as reports pointing to pockets of social unrest re: COVID restrictions across some of the major Chinese cities, weighed on risk sentiment in Asia-Pac hours. There was little to really counter the move, with the Hang Seng leading the major regional equity indices lower, trading just over 2% softer on the session, albeit off of session lows. E-minis are also off of worst levels, but the 3 major contracts are still 0.5-0.9% lower on the day, with the S&P 500 future making a brief showing below 4,000.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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