- Most Asian equities dipped on Thursday, while treasuries held firm, as traders considered the risks to the global economic recovery posed by the potential of greater monetary-policy tightening to combat inflation.
- Japan's, China's, and Hong Kong's equities all fell, with technology stocks leading the way. Futures on the S&P 500 varied, while contracts on the Nasdaq 100 gained. Stocks in the US fell overnight as a result of reports from the house building industry indicating high material prices and manpower shortages. Target fell on fears that rising costs will eat into profitability.
- Earnings from Alibaba Group in China will provide insight into the impact of Beijing's regulatory limitations. China's Evergrande Group, which is heavily in debt and is in the forefront of the country's real-estate liquidity crisis, has announced that it will sell its stake in Hengten Networks Group for $273 mln. Country Garden Services is attempting to raise capital through equity markets.
- The dollar index fell further from its peak in more than a year. Treasuries remained steady after closing higher in US hours, despite a lacklustre response to a 20-year note auction.
