The latest round of Chinese property easing measures (the city of Hangzhou loosened requirements for second homes purchases) and confirmation that Hong Kong will press ahead with its planned easing of COVID-related curbs seems to be allowing the earlier risk-positive flows (which surrounded the COVID situation in Shanghai) to extend. That leaves e-minis 0.3-0.7% higher, while the Hang Seng leads gains in the Asia-Pac equity space (adding over 1.5% early on). U.S. Tsys are still 1-2bp cheaper on the day. FX trade sees the AUD atop the G10 FX table, while the JPY finds itself at the other end of the rankings.
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