Hong Kong Good points, Raimondo Meets With China’s Ambassador To US

Key Information

Asian equities have been principally larger in a single day although Mainland China was decrease on decrease volumes.

US Commerce Secretary Gina Raimondo met Xie Feng, China’s present Ambassador to the US, in preparation for her four-day go to to China subsequent week. Xie Feng urged the Commerce Secretary to assist “overcome difficulties in the identical boat.” He referenced international financial challenges and famous that the US and China can work constructively to resolve them. Extra inexperienced shoots!

In different diplomatic information, the US eliminated 27 China-based firms from its “unverified listing,” which notes firms that import delicate supplies and applied sciences from the US for which the end-use of such items can’t be verified. Extra inexperienced shoots!

In the meantime, the US media continues to herald an impending financial disaster in China, which is usually falling on deaf ears because the market is extra clever. China’s authorities bonds have outperformed US treasuries by almost 15% for the reason that finish of 2020, utilizing consultant ETFs and on a complete return foundation. If what the media says is true, this may be the primary time in historical past that an rising market’s sovereign debt beats US treasuries as a disaster unfolds. Does the media know one thing markets don’t? That’s unlikely. The more than likely rationalization is that horror tales about Ukraine, COVID, or inflation not promote, they usually wanted to pivot to promote information.

Sport developer NetEase studies earnings tomorrow. Gaming revenues have been up considerably for Tencent, however Bilibili famous delays. It is going to be fascinating to see how NetEase’s launches have been faring.

The Dangle Seng and Dangle Seng Tech indexes each closed larger by +0.31% and +0.20%, respectively, on quantity that decreased -18% from yesterday. Quick sale turnover was additionally -8% decrease from yesterday. Mainland traders purchased a internet $398 million value of Hong Kong shares in a single day through Southbound Inventory Join. The highest-performing sectors in a single day have been vitality, which gained +1.29%, communication companies, which gained +0.30%, and data expertise, which gained +0.29%. In the meantime, the worst-performing sectors have been supplies, which fell -0.87%, utilities, which fell -0.84%, and actual property, which fell -0.70%.

Shanghai, Shenzhen, and the STAR Board -1.34%, -1.96%, and -2.40%, respectively, on quantity that decreased -14% from yesterday. Overseas traders offered a internet -$1.3 billion value of Mainland shares in a single day through Northbound Inventory Join. The highest-performing sectors in a single day have been vitality, which gained +1.07%, utilities, which fell -0.61%, and financials, which fell -0.96%. In the meantime, the worst-performing sectors have been data expertise, which fell -2.87%, communication companies, which fell -2.04%, and supplies, which fell -1.87%.

Final Night time’s Efficiency

Final Night time’s Trade Charges, Costs, & Yields

• CNY per USD 7.28 versus 7.29 yesterday
• CNY per EUR 7.89 versus 7.92 yesterday
• Yield on 1-Day Authorities Bond 1.45% versus 1.45% yesterday
• Yield on 10-12 months Authorities Bond 2.55% versus 2.56% yesterday
• Yield on 10-12 months China Improvement Financial institution Bond 2.66% versus 2.67% yesterday
• Copper Value +0.12% in a single day
• Metal Value -0.13% in a single day