The early uptick on a positive lead from...>

EQUITIES: The early uptick on a positive lead from Wall St. faded in Asia hours,

with risk not helped by mixed Chinese economic data, nor by the PBoC holding the

rate it applied to its MLF ops steady (a smaller rollover vs. yesterday's

maturing funds was more than offset by the implementation of the second stage of

prev. announced RRR cuts). A reminder re: the Thursday afternoon rally on Wall

St.; the move was driven by speculation surrounding M&A in the banking sector

(as Fox pointed to Goldman being on the lookout for an acquisition), allowing

the space to more than reverse its early losses that came in lieu of bubbling

Sino-U.S. tensions. A bid in crude oil prices also aided sentiment during

Thursday's session. Focus continues to fall on fiscal matters, with the Trump

admin reportedly open to a fresh round of pay check payments (although there are

some divisions within). Senate majority leader McConnell didn't rule out fresh

fiscal stimulus, but wouldn't be drawn to committing to a timeframe, while House

speaker Pelosi pointed to everything being on the table in fiscal discussions.

- Nikkei 225 +0.3%, Hang Seng +0.4%, CSI 300 +0.1%, ASX 200 +0.7%.

- S&P 500 futures -2, DJIA futures -13, NASDAQ 100 futures +11.