Asian markets are mixed on Friday. Oil prices have steadied following recent volatility, offering some respite for underperforming commodity producers. This follows a pickup in concern from the recent oil/energy weakness, which has dovetailed with a flatter yield curve and ignited debate about its signaling effect. Losses on mainland markets are building following a flat start. Weakness comes on the back of late selling Thursday, which followed reports regulators have ramped up scrutiny of big name acquirers as part of their deleveraging push. In draining another CNY50B via open market operations, the PBoC maintained that interbank liquidity is plentiful amid increased in fiscal spending towards the quarter-end. Trading activity is lackluster elsewhere across Asia. The ASX is flat with gains capped by more weakness in the banks. Reports have highlighted an increasingly hostile political environment for the four majors after the South Australian government introduced its own levy on their liabilities. There was muted impact on the Nikkei from the Japan flash PMI falling to a seven-month low.
Macro :
- Carlyle Co-CEO: Asia Valuations About 20% Lower Than U.S.
Keep an eye on :
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