The initial impulse surrounding the........>

EQUITIES: The initial impulse surrounding the positive lead from Monday's NY

session gradually moderated as we moved through Asia-Pac trade. Regional

headline flow was dominated by tension surrounding the WHO & source reports

pointing to NASDAQ listing rule changes which could limit the ability of Chinese

companies to raise capital. U.S. equity index futures ticked lower as a result,

with the major regional Asia-Pac equity indices back from best levels, but still

comfortably higher on the day.

- A reminder that after hours Monday saw the compiler of the Hang Seng note that

"Weighted Voting Rights and secondary-listed companies coming from the Greater

China region (i.e. Hong Kong, Mainland China, Macau and Taiwan) will be included

in the HSI and the HSCEI universes. This decision is strongly supported by the

market, with more than 90% of respondents in favour. As some respondents also

expressed a preference for limiting the proportion of these companies in the HSI

and the HSCEI, the following measures will be implemented simultaneously."

- Nikkei 225 +1.8%, Hang Seng +1.7%, CSI 300 +0.6%, ASX 200 +1.8%.

- S&P 500 futures -11, DJIA futures -69, NASDAQ 100 futures -20.