Asia equity markets follow suit to the subdued performance in Wall Street. With month-flows on the radar amid the US and UK holiday on Monday, traders are probably prompting carrying out portfolio rebalancing early. Most major equity indices traded on the red after following combined data releases, including weaker than expected US Consumer Confidence and New Home Sales figures. China’s new comments regarding the commodity surge saw metals drift lower and support global bonds as the inflation risk premium softened.
Last week, traders saw an emerging correlation between cryptocurrencies and global markets. The sell-off on the Crypto complex was triggered by China’s crackdown on trading and mining activities. Bitcoin continues holding just beneath USD 37.500, while fresh China Global Times reports note Mongolia and China are issuing new measures to crack down on crypto mining activities.
