From Forbes: 2024-04-25 09:59:57

Asian equities were mixed with Hong Kong, Mainland China, and India outperforming, while Japan, South Korea, and Taiwan underperformed following Meta’s earnings miss. BofA’s Global Fund Manager Survey reports Long Magnificent 7 as the most crowded trade, with short China equities as second. Hong Kong saw a mixed market, with value sectors leading. Mainland China posted small gains with value sectors leading, including Shanghai and Shenzhen. Great Wall Motors reported Q4 results with revenue up +48% and net income up +1.753% YoY. The Beijing Auto Show started with new car announcements. KraneShares predicts a positive outlook for Chinese equities due to recent trends and investor behavior. Hang Seng and Hang Seng Tech diverged on volume with real estate and healthcare sectors performing well, while communication and staples sectors declined. Shanghai, Shenzhen, and STAR Board were mixed with financials, real estate, and energy sectors outperforming. Foreign investors bought $48mm of Mainland stocks, with CNY and the Asia dollar index slightly off against the US dollar. Treasury bonds and copper and steel prices saw gains.



Read more at Forbes: Hong Kong & Mainland China Higher With A China/US Tech Deep Dive