October 03, 2022 04:44 GMT
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Continued uncertainty surrounding UK policy added to the negative spill over from Friday’s NY session, making for a fairly sombre start to October trading for Asia-Pac equities.
- Still, there was a move away from worst levels for the bulk of the major regional equity indices that were dealing overnight, probably aided by an uptick in Chinese property developer names operating in Hong Kong (which benefitted from reports flagging regulator guidance re: state-owned bank lending targeting the sector).
- The Nikkei 225 was the only major regional equity index to trade higher, as Japanese exporters benefitted from a softer JPY.
- Elsewhere, the 3 major e-mini futures contracts registered fresh cycle lows before correcting from worst levels.
- Chinese & South Korean markets were closed on the back of national holidays.