Asian markets mixed as PBoC debuts overnight liquidity tool

MacroGeopolitics
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Asian equity markets traded mixed on Monday after Wall Street's major indexes ended lower on Friday. U.S. equity futures rose following reports that Washington and Tehran have agreed to halt attacks against each other before peace talks resume in Doha this week, with Dow Jones futures gaining 0.28%, S&P 500 futures rising 0.54%, and Nasdaq 100 futures climbing 0.52%. The People’s Bank of China stepped up economic support by injecting 157.5 billion yuan through seven-day reverse repos while holding its primary policy rate steady at a record-low 1.4%, and in a key structural shift introduced a new overnight reverse repo facility offering 300 billion yuan to financial institutions. China's industrial profits for May rose 21.1% from a year earlier, moderating from April's 24.7% spike but confirming resilient growth in advanced industries. Japan's retail sales increased by 5.3% year-on-year in May, significantly beating market forecasts of a 3.2% gain.

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