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Higher After Rout On Monday

EQUITIES

A positive day for equity markets in the Asia-Pac timezone on Tuesday, recovering from a rout on Monday. Bourses in South Korea and Hong Kong lead the way higher, the latter boosted by reports that US President Biden saw the chip shortage as a top priority and was taking steps for a summit with South Korean president Moon. The Hang Seng is higher on reports that Hong Kong has made progress on a 'travel bubble' with Singapore, while pre-tested visitors from China are soon to be allowed to enter without quarantine. Markets in mainland China were supported by another set of robust trade figures. US futures are higher, there were reports late on Monday that Nvidia was taking aim at Intel after unveiling its first server microprocessors but this has failed to dampen the Nasdaq. Markets await inflation figures from the US later today.

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