Asian equities led most of their western counterparts into
red as oil remained on the retreat. WTI crude slipped below the key
USD40/bbl. US data underwhelmed with personal income a tad softer than
expected at 0.2%m/m. Personal spending steadied around 0.4%m/m and core
PCE softened to 0.1%m/m from previous 0.2%, underscoring weak price
pressures. Earlier on, Japan PM Abe’s fiscal package saw no fireworks
yesterday. New spending for the current fiscal year amounted to
JPY4.6trn, less than...