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Asian stock markets rose overnight, with Japan’s Nikkei index and China’s CSI300 index both up by about 1.8%. The South Korean Kospi rose 1.5%, and Hong Kong’s Hang Seng nudged up 0.5%.
Mohit Kumar, of the broker Jefferies, notes that markets “want to rally”.
We do acknowledge that the ceasefire is fragile and risks of a short term escalation to gain an upper hand in negotiations remain. But the view that is that any dips would be a buying opportunity. We are still keeping the risk profile low given the potential for near term volatility.
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