China Equity Gains Fueled by Property, Yields Rise: Macro Squawk

Greater China stocks extended recent gains, as plans to shore up the property sector boosting sentiment. 10-year Treasury yields climbed nine basis points to 3.90%, reopening after a holiday. The Hang Seng rose 2.9%; H shares 3.4%; with Shanghai Composite up 0.8%. S&P 500 futures slipped 0.3%; Nasdaq contracts down 0.5%; Japanese stocks lower. The dollar gained versus most G-10 peers, while dollar-yuan dropped to lowest in five weeks. Australian bond yields are higher across curve; JGB futures lower. WTI crude futures up near $89.20 ; gold down near $1,760; Bitcoin drops around 3%.

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