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Tech Rallies

EQUITIES

Equities are higher in Asia-Pac on Tuesday, having overcome an earlier mid-session drop. Chinese markets ventured into negative territory after the PBOC refrained from injecting liquidity for the seventh straight day, which saw repo rates jump and sapped equity markets. This negative sentiment spilled over into other Asia-Pac markets, before a rally in tech stocks helped markets regain footing. Markets in Australia are the biggest gainer today, led higher by a 3% rally in the tech sector. Futures in Europe and the US are mixed, the tech rally is supporting a move higher in Nasdaq futures, while e-mini Dow Jones has slipped around 0.125% at time of writing. Elsewhere, the VIX has returned to its pre-pandemic levels as equity markets in the US hover around record highs.

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