Asian Equities Mixed |

Asian Equities Mixed |

Hawkish Fed comments leave Asian equity markets mixed

Equities were mixed in Asia after Vice-Chairman Clarida’s comments on tapering and rate hikes sent equities lower overnight on Wall Street. The fell 0.46% while the clung onto some gains, closing just 0.13% higher, while the fell by 0.92%. Sentiment was not assisted by the data, which rose by much lower than forecast, raising fears that tomorrow’s will disappoint.

In Asia, futures on all three US indices have recovered slightly, rising by around 0.20%. That has lifted the by 0.50%, helped along by some strong earnings by local heavyweights, while Japan’s spiraling virus caseload is being ignored for now. The , though, edged lower by 0.10%, while was unchanged.

In China, the Securities Times article admonishing online gaming sparked another sell-off in some equity markets, with fears that more government clampdowns on the tech sector are imminent. The article marked another salvo at the online gaming industry, citing teenage addiction and favorable tax treatment. This is the second government mouthpiece to take a shot at the online gaming sector this week, and investors who ignore this warning do so at their peril.

The was unchanged, but the more tech-heavy fell by 1.05%, while , somewhat surprisingly, was unchanged on the day.

Regionally, markets were toying with each side of unchanged, with down 0.10% while was up 0.10%. rose 0.45% ahead of data later today, with climbing 0.35% and also just 0.10% higher. Australian markets were much the same, with the and also 0.10% higher.

The modest recovery by the US futures should be enough to generate a slightly positive start for European equities. However, as previously stated, equity markets look like they are settling in to wait for tomorrow’s US employment data.

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