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Chinese stocks have given up some of their....>

CHINA: Chinese stocks have given up some of their gains but remain big
beneficiaries of the improvement in risk appetite triggered by favourable
US-China trade headlines. HSI remains up ~2.5% on the day. 
- We have also seen a sharp rise across the interest rate swap curve with the
2-year up 5bp at 2.57%. A close back through 2.6% would be highly bullish,
suggesting a potential bullish reversal.
- USDCNH is holding just below uptrend support from the Aug lows as the yuan
outperforms globally despite a still-wide gap between US and Chinese interest
rate swaps. For now, risk on sentiment appears to be outweighing the impact of
wider rate spreads. 

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