China is said to be mulling reviving Jack Ma's Ant IPO, with reports framing it as an easing in crackdowns from China, according to Bloomberg sources

Reaction details (09:52)

• Following this update, both European and US equity futures moved higher.


• Specifically, US futures extended on their modest positive performance, with the ES Jun'22 lifting from 4121 to a fresh session high of 4129.


• Elsewhere, the Yuan saw marked appreciation with USD/CNH dropping from 6.6880 to 6.6642.


• In Europe, Prosus (PRX NA) spiked higher from EUR 51.50 to EUR 54.50 as it holds a 28.81% stake in Tencent (+7.5% premarket)
  


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  Alibaba (+6.6% premarket) also sees substantial gains in the pre-market. 

Analysis details (09:50)

• Earlier this week, reports suggested that China is set to conclude its cybersecurity probe into DiDi (DIDI) and lift its Ban on new users, according to WSJ, with reports adding that authorities were also preparing to allow Didi's app back on domestic Chinese app stores, perhaps as soon as this week.

09 Jun 2022 - 09:48- EquitiesImportant- Source: Newswires