Risk Off Rules The Day, Light At The End Of Tunnel?

Key News

Asian equity markets had an ugly night as Japan and South Korea underperformed while Mainland China missed out on the fun due to the Mid Autumn Festival holiday (Golden Week).

Macroeconomic concerns weighed on risk assets. US House Speaker McCarthy was voted out against the backdrop of the government budget debate, which was postponed to next month. Also, strong US job data gave credence to “higher for longer” talk as US Treasury yields rose along with the US dollar during Asia trading hours.