Monday's positive European equity..........>

EQUITIES: Monday's positive European equity dynamic, as well as a break above

3,000 and the 200-DMA for S&P 500 e-minis have resulted in a risk-on feel to

Asia-Pac trade, with a focus on some stock-specific stories, as well as the

continued trend of a gradual roll-back of COVID-19 restrictions across most of

the globe and news that Novavax has started the first human study of its

experimental coronavirus vaccine (although hopes re: the impending Japanese

approval of Fujifilm's Avigan for treatment of the virus were dealt a blow).

- These positives are combining to outweigh the spectre cast by Sino-U.S.

tensions and matters surrounding Hong Kong, at least for now. We will have to

see how the U.S. evaluates the situation when cash markets in New York return

from the elongated weekend.

- Nikkei 225 +2.4%, Hang Seng +1.9%, CSI 300 +0.8%, ASX 200 +2.1%.

- S&P 500 futures +47, DJIA futures +416, NASDAQ 100 futures +160.