bullish
HSI Index, HSITECH Index, Hong Kong Stock Exchange, and China Unicom
SUMMARY
- The market pivoted late last week from there will be no PBOC rates cut to there being much more Monetary Policy support needed.
- The pivot was the sharp slowdown in Aggregate Financing, Industrial Production, Real estate, and Retail Sales. All it took was a 10-bps cut in one-year MLF.
- Meanwhile, Hong Kong saw HIBOR continue to rise even with currency strength.
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