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Tech Rout Continues

EQUITIES

Equity markets in Asia mostly in the red as the global tech rout continues; the Taiex is the worst performer, down over 5% at its nadir which equates to over 10% from its April highs. South Korea also sustaining heavy losses despite strong labour market data. Japanese markets also in the red for the second day, having wiped out all of last week's gains. The Hang Seng and bourses in mainland China have managed to just about keep their head above water. In the US futures are negative with the Nasdaq leading the way lower, markets await the US CPI report as well as a speech from US President Biden.

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