Interpretation of recent US macro data suggesting FED may halt its tightening cycle were likely the major force behind fresh liquidity inflows. Liquidity was poured heavily into Hungary, Poland and to a certain extent Czech. CEZ, Cesky Telecom and Komercni were up strongly, posting almost 2% gains. Demand was combined. This morning we will focus on trading in Erste bank where an expected capital hike was announced today. We expect regional banks to open touch lower as some may want to raise cash for the offering, however we think such strategies will be short-lived and any major weakness will therefore represent buying opportunity.