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US indices deepened post-FOMC declines yesterday and finished another session lower. S&P 500 dropped 1.06%, Dow Jones moved 0.46% lower and Nasdaq plunged 1.73%. Russell 2000 dropped 0.53%
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Chinese indices rallied today with most blue chips benchmarks trading over 2% higher. Hang Seng jumps almost 7%
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According to Bloomberg report, US officials finished first on-site inspections of Chinese companies in a move that will help prevent delisting of Chinese stocks from US exchanges
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China is working on a plan to drop Covid flight suspensions. Volume of news suggesting that China may be inching towards relaxing its Covid-zero policy has been on the rise recently, providing some support for Chinese equities
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Moods in other parts of Asia-Pacific region were mixed. Indices from Japan and India dropped while stocks in Australia and South Korea gained
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DAX futures point to a higher opening of the European cash session today
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Reuters reports that G7 agreed on the idea to set a fixed price cap on Russian oil rather than discount to the index. However, price level itself has not been set yet
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Saudi Aramco lowered prices for December delivery to customers in Asia
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Reserve Bank of Australia boosted CPI forecast and does not expect inflation to return to the 2-3% target over the forecast horizon (ends in 2024)
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Telegraph reports that UK Chancellor of Exchequer Hunt is considering increase in capital gains tax rate
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Cryptocurrencies trade higher today. Bitcoin gains 2%, Ethereum trades over 3% higher while Polygon rallies almost 19%
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Commodities benefit from USD weakness - oil trades over 2% higher while gold and other precious metals gain over 1%
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US dollar is the worst performing major currency this morning while NZD and AUD are top outperformers
Unconfirmed news on relaxing Covid restrictions as well as Bloomberg report on US on-site inspections of Chinese companies are providing a lift for Chinese indices. CHNComp trades over 5% higher on the day and sits at 2-week highs. Source: xStation5
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