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EQUITIES

The fiscal impetus from DC and spill over from Wall St. trade supported broader risk appetite in Asia-Pac hours, even in the wake of the late Tuesday fade for equities after Senate majority leader McConnell limited the prospects for a pre-election fiscal pact. Still, e-minis traded shy of their respective Tuesday highs during Asia-Pac hours.

  • Chinese mainland equities were the exception to the broader rule, although there was little in the way of notable macro headline flow to drive the move, outside of guidance of 5-6% Chinese GDP growth for the foreseeable futures (per separate comments from an advisor to President Xi and a former state planning body official). This would represent a lower growth clip than we have become accustomed to, although such growth would be more than healthy, with slowing expected as the Chinese economy evolves.
  • Nikkei 225 +0.5%, Hang Seng +0.7%, CSI 300 -0.5%, ASX 200 +0.1%.
  • S&P 500 futures +20, DJIA futures +143, NASDAQ 100 futures +71.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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