The risk mood in Asia was dampened by Trump’s executive orders against ByteDance and Tencent earlier in the day, prompting a fall in equities as well as US futures. The declines have been pared back a little but the mood is still more defensive for now.

The Hang Seng is down by 1.7% with Tencent stocks down by over 4% (but off the earlier lows where stocks fell 10%) and the Shanghai Composite is down by 0.9%.

In the currencies space, the dollar is still keeping firmer across the board but gains have been pared back a little as well. EUR/USD is now at 1.1845 after having moved to a low of 1.1820 earlier, with AUD/USD at 0.7210 after hitting a low of 0.7195 earlier.