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Chinese Equities Red Against A Broader Sea Of Green

EQUITIES

A more passive tone from Trump, as he pledged to work towards a smooth Presidential transition later this month, alongside talk of a Biden infrastructure plan (albeit linked to higher taxes for high earners) and potential positive news on the vaccine front re: COVID-19 mutations supported the majority of the major equity indices during Asia-Pac trade, with the S&P 500 e-mini tapping new highs in the process.

  • The CSI 300 was the exception to the rule, with this week's seasonal liquidity withdrawal, MSCI index deletion for the three major Chinese telco names targeted by the Trump executive order and continued policymaker scrutiny of Alibaba hampering A shares.
  • Nikkei 225 +1.7%, Hang Seng +1.3%, CSI 300 -1.0%, ASX 200 +0.4%.
  • S&P 500 futures +13, DJIA futures +110, NASDAQ 100 futures +28.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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