Investor sentiment remains bearish: Nomura

Here are experts equity calls for the day on how the markets are expected to trade:

Michael Kurtz, Nomura: While markets are likely to remain hostage to developments in Europe in the near-term, we see clear signs of improvement in the broader environment for Asia. Investor sentiment remains bearish and cash positions are high & we feel the balance of risks remains skewed to the upside.

Emil Wolter, RBS: Asia ex-Japan managed to register net inflows this week despite the rising risk aversion, triggered predominantly by the spike in Italian bond yields. However the inflows are mainly from ETFs, driven by institutional investors eager to chase performance after the recent bounce. Conviction however remains low.