Hang Seng Helped by Inflation Rebound & Xiaomi’s Surge on EV Delivery Date
HKG33 makes a strong start to the week helped by Chinese inflation pickup and Xiaomi’s jump after announcing deliveries of its first EV within the month
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HKG33 makes a strong start to the week helped by Chinese inflation pickup and Xiaomi’s jump after announcing deliveries of its first EV within the month
The rally of the Japanese index rose past its 1989 highs creating exuberance, but the previous peak had led to prolonged slump as the central bank tightened policy and similarities can act as cautionary tale
Japan’s Nikkei 225 (JPN225) hit a record today, trading at a high of 39,178. This is higher than the previous high of 38,915 reached in 1989. The Japanese index has been powered by a weaker yen, strong earnings, and investor-friendly measures.
The index finds some support as China’s central bank cut the key rate that affects mortgages, but the move could pressure banking profitability
China’s inflation contacted at the fastest pace in three years despite Beijing’s efforts to support domestic consumption, leading HKG33 to new 2023 lows
HKG33 faces pressure in a mixed month, after today’s Manufacturing PMI showed further contraction, highlighting China’s fragile economic state
The commodity made a strong start to the week as China looks to provide further support to the real estate market and troubled developer Sunac meets restructuring conditions
Shares of Chinese tech giant Alibaba slump after abandoning plans to spin its Cloud unit due to US chip restrictions, weighing on HKG33
HKG33 extends this week’s slide after today’s data showed an escalation in China’s deflationary pressures, on both the consumer and the producer sides
HKG33 registered another losing month, dropping today after Chinese factory activity slipped back to contraction territory
The BoJ continues on the slow path to normalization of is ultra-accomodative policy setting, as it further loosened its grip on the yield curve control on Tuesday and raised its inflation forecasts
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