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Fresh Highs, Again

EQUITIES

Regional equity markets trod higher during Monday's Asia-Pac session, as the S&P 500 e-mini contract registered fresh all-time highs in the process, looking above the 3,400 level.

  • The space is seemingly happy to look to the questionable positives surrounding U.S. President Trump's latest maneuvering re: COVID-19 treatment (see earlier bullets), alongside developments surrounding similar matters in China (weekend reports that China granted approval for the emergency use of a COVID-19 vaccine for "special groups" that include medical workers and border-check officials in the month of July), looking through the continued Sino-U.S. tension.
  • The Hang Seng was the regional outperformer, as some pointed to BBG's report, published Friday, which suggested that President Trump's administration is privately seeking to reassure U.S. companies that they can still do business with the WeChat messaging app in China, which in turn supported developer TenCent during Monday's session.
  • Elsewhere, a deluge of IPOs amid a new round of regulations for China's ChiNext index drew interest.
  • Nikkei 225 +0.2%, Hang Seng +1.5%, CSI 300 +0.8%, ASX 200 +0.1%.
  • S&P 500 futures +9, DJIA futures +76, NASDAQ 100 futures +44.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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