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Soft Start To The Week

EQUITIES

Regional bourses are tracking lower, with markets continuing to see fall-out from firmer than expected inflation data through Friday's US session. China/HK markets are away from worst levels, while US futures are higher, but down from session highs, with Eminis almost back to flat.

  • The HSI erased losses of 1%, due to better earnings results from Haidilao (a hot pot chain). We are still lower at this stage, -0.5%. The commodity space has seen some steel and coal names do better as well, as pollution curbs are seen as boosting prices. This hasn't helped iron ore, which is off today. The CSI 300 is down by around 0.3% at this stage.
  • The Nikke 225 is down slightly, but the Kospi (-1.13%) and Taiex (-0.70%) have fared worse. This followed tech losses on Friday, with pressure coming from higher core yields.
  • The ASX 200 is down by over 1%, as miners were hurt by the iron ore pull back. NZ stocks were also off by nearly 1%.
  • Philippines markets are down around 2% at this stage, as markets played some catch up after being closed on Friday.

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