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Broadly Positive

EQUITIES

A broadly positive session for Asia-Pac equity markets, taking a positive lead from the US on Friday. Equity futures initially sold off on the miss in NFP data, before a fearsome rally set in, as concerns that the Federal Reserve could taper asset purchases and withdraw stimulus as soon as summer were rowed back, with markets seeing QE as here to stay. The post-payrolls rally put stock futures at new all-time highs. Markets in Japan and South Korea lead gains today, both higher by around 1%, in mainland China gains are smaller with major indices up around 0.3%. In Australia gains were supported by further upside in the commodity complex including iron ore. US futures are in the green, building on Friday's gains.

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