- Stocks in Asia were mixed following declines in the US, while the yuan strengthened on signs that China would loosen trade restrictions further.
- Australian and Korean equity benchmarks fell, shares in Hong Kong and mainland China fluctuated, and Japanese equities held onto a small gain. Futures contracts for European stocks and the S&P 500 rose. The US stock index fell 1.4% on Tuesday, marking the fourth consecutive decline and the worst run in a month.
- Following reports that China would allow home quarantine of some infected people in the latest relaxation of pandemic rules, the offshore yuan strengthened.
- The dollar and treasuries maintained their Tuesday gains. Australian bonds followed the treasury rally, shaving 4 basis points off the 10-yr yield to 3.36%. The Australian dollar maintained its gains after third-quarter GDP fell short of expectations.
