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Reversal

EQUITIES

A mixed day for equity markets in the Asia-Pac region. Most indices were in the red with mainland China leading the way lower, the CSI 300 was down as much as 3.25% before reversing course to move into minor positive territory. The move higher was later confirmed to be the handy work of Chinese state funds buying stocks to support markets. The bid seeped into other markets, and saw markets in Japan, China, Hong Kong, Australia and India in positive territory, but Taiwan and South Korea are still lower on the day, but off worst levels.

  • Futures in Europe and the US are mixed, the Dax is in negative territory after hitting a record yesterday, while US bourses are in minor positive territory. The Nasdaq has recovered the most after sustaining the worst losses yesterday, while the Dow managed to finish in positive territory, a divergence not seen since 2001.
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