Risk Off Resumes

Equity indices in Asia are lower, taking a negative lead from Wall Street which engendered a broad risk off tone. Markets in South Korea led the way lower after the BoK kept rates on hold but indicated a hike at the November meeting as two lodged dissent against the decision. Markets in China also lower, the China's NDRC said it was pushing for all industrial and commercial users to enter the power trading market, in an orderly way, while there was also some attention on an earlier report that regulators would scrutinise ties to state banks. Markets in Japan are lower, JPY pushed to fresh multi-year highs shaking off stronger than expected PPI data. US futures declined with e-minis seeing losses of around 0.5%, markets look ahead to CPI and retail sales data as well as the start of Q3 earnings season this week.