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Hang Seng Leads Way Higher On U.S. Audit Hope

EQUITIES

Gains for Hong Kong's Hang Seng & Hang Seng Tech indices helped to reverse an early downtick in e-minis & the major regional equity indices during the first Asia-Pac session of the week. The move came after the weekend saw China's CSRC propose the revision of confidentiality rules re: offshore equity listings, removing a legal hurdle to Sino-U.S. cooperation on the heavily contentious audit front. The Hang Seng outperformed regional peers as a result, adding ~1.2% come the lunch break, while wider regional liquidity was impacted by the observance of a Chinese national holiday (note that Chinese and Hong Kong markets will be closed on Tuesday). The likes of the Nikkei 225, ASX 200 and S&P 500 e-mini futures have lodged marginal gains.

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

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