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E-minis Unwind Losses, Chinese Tech Nudges Higher

EQUITIES

U.S. e-mini futures unwound their early losses (which were linked to geopolitical worry surrounding Russia & questions re: the hiking trajectory of the U.S. federal Reserve) as we moved through Asia-Pac dealing. A bounce in Chinese tech names listed in Hong Kong aided broader sentiment, as that space benefitted from another round of hope that the worst is behind us when it comes to the regulatory clampdown on the sector, in addition to a technical bounce and some speculation re: month-end rebalancing flows. Japanese equities also ticked higher on the day, while Australia’s ASX 200 lodged modest losses. A reminder that Chinese markets were closed for the Lunar Year Holiday, with Hong Kong markets ceasing trade at lunch time, owing to the observance of the same holiday.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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