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Asia Stocks Generally Higher, Aided By U.S. Lead


The positive lead provided by Wall St. supported the majority of the major regional equity indices during Asia-Pac hours, with e-minis running little changed overnight.

  • Hope re: the passing of the worst of the regulatory crackdown from Chinese policymakers allowed the Hang Seng's tech sector to rally, although the Chinese mainland indices lacked clear direction even as the PBoC stepped in with month-end/bond issuance related net OMO injections. Chinese state media also communicated the views of analysts pointing to diminished odds of a RRR cut from the PBoC in Q4, while the NBS pointed to known headwinds for the Chinese economy.
  • The Hang Seng outperformed on the aforementioned strength for tech, adding over 1% on the day at typing.
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