The Nikkei 225 and the ASX 200 took the....>

EQUITIES: The Nikkei 225 and the ASX 200 took the lead from Wall St., with

positive (albeit caveated) musings surrounding the human trial of Moderna's

COVID-19 vaccine lending further support to those particular indices. Elsewhere

in the region, Chinese equities struggled for a second straight session, giving

back their early gains and more. This came in the wake of yesterday's record

outflows for mainland shares via the Hong Kong stock connect program and a wider

crackdown on shadow financing practices in China. Also worth noting that U.S.

President Trump's formal signing of the Hong Kong Bill limited the broader

risk-on feel, forcing the Hang Seng to unwind its early gains. Elsewhere,

China's tax regime re: Hong Kong was also cited as a source of worry.

- E-minis traded through their respective Tuesday highs. U.S. earnings season

remains in focus, while 74% of those surveyed under the most recent Bank of

America Fund Manager Survey noted that long U.S. tech stocks is most the

"crowded trade" (the highest such reading in FMS history).

- Nikkei 225 +1.1%, Hang Seng -0.5%, CSI 300 -1.2%, ASX 200 +1.2%.

- S&P 500 futures +22, DJIA futures +265, NASDAQ 100 futures +22.