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Late US Rally Inspires Gains

EQUITIES

Equity markets in the Asia-Pac region rose on Thursday after being under pressure for much of the week with several markets entering technical correction territory. Bourses took the baton from US stocks which closed with gains after a late rally amid signs of progress on the debt ceiling impasse. Hong Kong led the gains, the Hang Seng rising 2.5%, though liquidity remains thin with Chinese markets still on holiday returning to trade tomorrow. US futures rose, gains led by e-mini Nasdaq; US fiscal machinations will be watched after US Senator McConnell said a short-term debt ceiling vote is possible today.

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