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Edging Higher


Less worry surrounding spill overs re: China Evergrande seemed to support the broader risk tone in early Asia-Pac dealing, with participants welcoming restructuring/nationalisation speculation surrounding the name, although a lack of clarity surrounding a US$ coupon payment on one of the company's offshore bonds (due today) saw the name, and various regional property metrics, move back from early peaks.

  • The major regional equity indices have all nudged higher during Asia-Pac hours, aided by the positive lead from Wall St., with a bid in IT & energy names allowing the ASX 200 to outperform.
  • E-minis haven't been derailed by a hawkish FOMC dot plot (released Wednesday), nudging higher overnight.
  • Japanese markets were closed on Thursday, sapping some liquidity out of the region.
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