ASIA-PAC MID-SESSION UPDATE: Asia heads into closes mostly positive, despite early widespread indecision amid Alabama senate race and looming FOMC

Asia equity markets head into the closes mostly positive on what was an indecisive trading day with the region cautious throughout most the session ahead of the looming FOMC and amid the Alabama Senate election results, in which the GOP’s US Senate majority was trimmed to 51-49 seats after Doug Jones won the race to be the state’s first Democratic Senator in 25 years. ASX 200 (+0.1%) was kept in a tight range and Nikkei 225 (-0.4%) was dampened by a firmer JPY, as focus centred on the developments in US which was a blow for President Trump and effectively tightens the passage for tax reforms. Elsewhere, Hang Seng (+1.1%) outperformed and Shanghai Comp. (-0.1%) was choppy as liquidity efforts by the PBoC were counterbalanced amid the backdrop of the risk events stateside. Finally, 10yr JGBs were range-bound with early support seen amid weakness in Japanese stocks and after the BoJ Rinban announcement for JPY 960bln in 1yr-10yr JGBs, although this was later pared in 2nd half of trade in which prices returned flat. 

13 Dec 2017 - 05:54- Important- Source: RANsquawk

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