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Latest news from #SaxoStrats
Tough day for retailers and Tesla in the US, and Tencent broadens the rout in Asia
Asian markets joined the overnight selloff in US equities although some reversals were seen subsequently. Risk sentiment saw a mild recovery but the outlook for consumer discretionary remains murky amid rising cost pressures and inventory building. Australia’s unemployment rate dipped to record lows and watch for Japan’s CPI and China’s loan prime rates due on Friday.
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