The narrative of an impending global slowdown amid poor US data, as well as the fallout from National Day violence in Hong Kong, are expected to dominate the markets on Thursday.
US equities fell overnight after American employment data – coming a day after poor factory data – too fell below expectations. Monthly jobs data coming out on Friday could set the tone as far as rate cut expectations are concerned.
Mainland Chinese markets remain shut for “golden week” and will resume trading on October 8. In Hong Kong, the anti-government protests are weighing on home prices and have set the tone for the de facto central bank’s new chief executive. The protests, in their fourth month, have already made an impact on retail, rents and tourism.