Struggling To Make Gains

A mixed day for equity markets in the Asia-Pac region with major bourses moving in narrow ranges despite a positive lead from the US where indices hit fresh record highs. In China markets are just managing to keep their heads above water, the PBOC injected liquidity into the system again but repo rates still rose to multi-month highs. In Australia the ASX 200 is higher, shrugging off the announcement of further lockdowns, gains also seen in Singapore after the MAS upgraded growth and inflation forecasts while the number of coronavirus cases remains subdued. Bourses in Japan are flat as industrial production saw the first decline in three months. In the US futures are higher; Fed's Waller spoke late yesterday, he was positive on the economy but noted that while the taper could come earlier than expected he did not move his "dot" forward at the June meeting.