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Positive Sentiment Spills Over From US

EQUITIES

Asia-Pac equities are in positive territory to start the week, most major indices are in the green led by indices in Japan where the Nikkei 225 has gained over 2%.

  • Markets took a positive lead from the US on Friday where the S&P 500 hit fresh record highs. Markets are also digesting comments from US Treasury Secretary Yellen who advocated for an accelerated stimulus package, saying the US could reach full employment next year if stimulus is passed. Also providing oil with tailwinds are expectations of stimulus from the US. The senate approved a fast track budget measure on Friday that could facilitate the passing of the stimulus package even without Republican support.
  • Bourses in South Korea are the exception, currently trading with minor losses. South Korea's Hyundai Motor said on its talks with Apple over autonomous electric cars ended without a deal, just a month after it confirmed early-stage talks with the tech giant. Kia, an affiliate of Hyundai and the firm touted to actually carry out the work, also dropped.
  • Futures in the US are higher, gaining around 0.5% at the time of writing.

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