Daily Brief China: Blackstone , Cathay Pacific Airways, Will Semiconductor Shan and more

In today’s briefing:

Asia Real Estate Tracker (14-Feb-2025): Bain Capital buys worker housing from Blackstone for $555M.
A Bullish Case for Cathay Pacific (CX)
More Countries Breaking Out; Bullish Outlook Intact; Buys in China, Europe, More; DXY & Yields Top

Asia Real Estate Tracker (14-Feb-2025): Bain Capital buys worker housing from Blackstone for $555M.

Bain Capital acquires worker housing in Singapore for $555M from Blackstone, expanding their real estate portfolio in the region.
Standard Chartered Marketing Shanghai Office Blocks due to BlackRock default, highlighting the impact of financial decisions on commercial real estate.
PAG successfully raises $4B for APAC real estate fund, demonstrating investor confidence in the region’s property market despite economic uncertainties.

Cathay Pacific carried a total of 2,248,950 passengers in December 2024, an increase of 26.4% compared with December 2023.
The month’s revenue passenger kilometres (RPKs) increased 27.9% year on year.
Passenger load factor increased by 3.6 percentage points to 84.8%, while available seat kilometres (ASKs) increased by 22.5% year on year.

Our outlook remains bullish on MSCI ACWI. Discussed in Jan9,2025 report how we viewed the pullback as a buying opportunity and were watching for $116-$117 support to hold on ACWI-US.
$116 support held perfectly, and now both ACWI-US and the S&P 500 are coiling just below all-time highs, likely setting up for major breakouts. ACWI is now breaking out.
DXY and 10-Year Treasury yield are both topping, a crucial risk-on signal for global equities. More and more countries breaking out. Actionable Themes: Technology, Services, Communications, Industrials, Gold Miners, Financials

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