Risk keeps in a better mood towards the end of the week

Asian equities higher alongside US futures

Risk tones are looking better as the week winds down, with Asian equities bouncing back after heavy losses yesterday with the Hang Seng tech index battered after China’s latest clampdown on the gaming industry here.

The rebound today sees the likes of Tencent, NetEase, and Alibaba lead the charge but fears surrounding the industry’s outlook may not rest too easy in the weeks ahead.

The Hang Seng is up 1.7% at the break currently while the Nikkei is up another 1.1% as Japanese stocks extend their breakout form since last Friday.

Elsewhere, US futures are also looking to snap a run of losses with S&P 500 futures up 0.2%, Nasdaq futures up 0.2%, and Dow futures up 0.3%.

A phone call between Biden and Xi may be helping with sentiment somewhat but all of that is likely just an exchange of pleasantries with US-China relations still rather tense.

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