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Mixed Following U.S. CPI

EQUITIES

The Hang Seng and CSI300 outperformed their major Asia-Pac peers, trading 0.1% and 0.3% firmer at writing. Real estate sub-indices helped the outperformance of both. This comes after Thursday media reports pointed to further regulatory easing in the sector i.e. easier access to presale proceeds from residential projects. High-beta Chinese stocks are worse off following Thursday’s U.S. CPI print/Fed-induced Tsy cheapening, with the Hang Seng Tech Index 0.5% lower, while China’s ChiNext trades down 1.4%, operating at the lowest level observed since April ’21.

  • E-minis have struggled (the 3 major contracts trade 0.8-1.0% lower at typing), with Tsys receiving little respite during Asia-Pac dealing.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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