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Hang Seng Soars In Risk On Trade


Broad risk on sentiment in Asia has seen domestic stock indices surge. The Hang Seng leads gains, last up over 3%, morning trade saw southbound net inflows hit 82% of yesterday's record daily level. The bourse seeing inflows for 19 consecutive sessions as Chinese investors snap up stocks that were previously sold off as the US imposed restrictions on China. As a result, Chinese indices are the laggards in the region, CSI 300 down around 0.4%.

  • In Australia the ASX 200 is up over 1% as latest testing data shows the latest coronavirus outbreak appears to be under control, consumer discretionary is the best performing sector.
  • US stock futures have risen as yields have ticked lower, markets look ahead to an address from President-elect Biden's selection for Tsy Secretary, Janet Yellen, as she appears in front of the Senate Finance Committee in the wake of comments in the WSJ that the US would not pursue a soft dollar policy. European futures are also higher.

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