From Forbes: 2024-05-10 11:01:18

Asian equities saw mixed performance with Hong Kong, Taiwan, and Japan outperforming while the Philippines and Malaysia closed lower. Hong Kong surged on the news of Mainland investors’ dividend tax waiver and saw value stocks lead the market higher. Real estate sector in China gained +5.58% in Hong Kong and +4.67% in Mainland China. Hang Seng Index broke through resistance level at 18,500.

Mainland China was mixed with Shanghai gaining +0.01% and Shenzhen falling -0.71%. Concerns arose over Biden’s tariff announcement on China-made EVs and solar panels. Hang Seng and Hang Seng Tech Indexes gained +2.30% and +0.38%, respectively. Southbound Stock Connect saw high volumes with Mainland investors buying a net $832 million in Hong Kong-listed stocks and ETFs.

Shanghai, Shenzhen, and STAR Board were mixed with Shanghai gaining +0.01%, Shenzhen falling -0.71%, and STAR Board falling -1.5%. Northbound Stock Connect volumes were moderate as foreign investors sold a net -$872 million worth of Mainland stocks. CNY was off slightly versus USD. Treasury bond curve flattened, copper gained, while steel fell. Webinar on AI as the next catalyst for emerging markets scheduled for May 14th.



Read more at Forbes: Hong Kong Gains, Zeekr Files For US IPO, Week In Review