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Powell & Chinese Inflation Support Stocks

EQUITIES

The positive lead from Wall St. provided upside impetus for the major regional Asia-Pac equity indices, while weaker than expected inflation data out of China provided another leg of support, as the dataset lifted the prospect of deeper monetary easing from the PBoC.,

  • •Chinese tech benefitted from Tuesday’s outperformance in the NASDAQ, which was a product of the stabilisation/downtick in U.S. Tsy yields. This allowed the Hang Seng to outperform its major regional counterparts, adding a little over 2.0% as of typing.
U.S. e-mini futures were little changed, consolidating Tuesday’s rally which came on the back of Fed Chair Powell’s failure to introduce any fresh, meaningful hawkish information in his latest testimony on the hill.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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