Asian equities see a mixed session with a downbeat tone despite the gains seen on Wall Street, which marked the S&P 500 hit a new record. Today’s light data announcements might ease the price action after a busy week. On the investor’s radar, worth noting that on Wall Street, the Energy, Industrials, and Materials sectors in the equity space were the worst performing in the S&P 500. Traders have been paying attention to the bond yields and cyclical as they could have bottom down, and it is going higher for the rest of the year as the global economies are starting to the final stages of the reopening.
On the China front, reports state that the PBoC should hold the steady strengthening of the yuan in the longer term to support domestic demand and serve its new growth model with the local market as the strength. On the COVID front, in Australia, local media states that Australia’s “state premiers will confront the Prime Minister at Friday’s national cabinet meeting over Sydney’s spreading delta outbreak. This theme could keep the AUD and local equities under pressure for some time.
