Asian equities could trade mixed after choppy price action on Wall Street

Asian equities could trade mixed after a choppy price action on Wall Street due to soft US data, hot European inflation data, and month-end flows driving bonds and equities prices. The session ahead could see more technical flows being the major driver for the day as traders look to unwind hedging exposure after month-end activity as the last month-end of the quarter kicks in. On the macro front, traders will be watching the China February Official PMIs Chinese manufacturing and non-manufacturing PMIs with desks expecting that China’s economic growth after the COVID reopening will start to accelerate, and that could drive flows to cyclical stocks and also the Yuan as traders look for one of the key trades of 2023, which is a cyclical exposure to China.