Asian equities were mixed overnight as the Philippines, Taiwan, and South Korea outperformed, Thailand underperformed, and Pakistan was closed for Kashmir Solidarity Day.

Tariff tit for tat weighed on market sentiment except for metals and mining companies as gold surged, as well as AI plays such as semiconductors, software, and technology hardware, which could also be related to the early success of the new electronic trade in subsidy.

The news that the American Postal Service would suspend non-Hong Kong and mainland Chinese parcels and that an investigation by Shein and Pinduodoo Temu would also be conducted into sentiment. On Wednesday morning, the U. S. Postal Service said it is canceling package delivery because the art of the deal requires certain volatility.

Locals resembled traders rather than investors, taking quick profits, including Mainland investors with a rare net sell of -$680 million, mainly the Hong Kong Tracker ETF via Southbound Stock Connect. News that the Chinese government might investigate Apple is a subtle reminder that they have levers that can hurt the U.S. government and, unfortunately, U.S. investors. We have long stated that there are about ~$376 billion of U.S. goods made and sold in China, according to the New York Federal Reserve Bank, that are not by definition “exports” though those revenues and profits flow to the U.S.

The Ministry of Commerce has announced that it would begin to apply export controls from Tungsten, bismuth, molybdenum and bismuth. Be that as it may, the current market action obviously indicates that no one wins in a war in the industry, so I hope the two parties can distinguish the Kabuki theater and meet.

The most ridiculous thing you’ll read is how the Caixin Services PMI “missed” economist expectations as only five firms, of which only two economists submitted estimates. I would start submitting an “expert” estimate for fun if I had the bandwidth. The January release was 51 versus “expert” expectations of 52.4 and December’s 52.2. It was interesting that consumer stocks were off despite early indications that Chinese New Year vacation numbers were robust.

There were positives with CATL pronouncing that he would return to Hong Kong after the finale. The removal of mainland corporations in Hong Kong may simply pile on China’s weight in MSCI’s indexes. As an FYI, don’t forget that the stocks mentioned by the continent only get 20% of their market capitalization added to MSCI’s indices. Premier Li presided over a State Council assembly that did not generate anything tangible for more sound bites, adding the statement of “a more proactive technique to selling high-quality progression and achieving new results. “

With much, today’s maximum attractive news indicates that the new house index in one hundred cities greater than 0. 23% in January, with 47 cities that appear per month that are worth the values, 41 falls in Worth Worth Moms and 12 without changes. One year to the next, 61 cities had an increase, 39 had a fall and 0 without changes. By way of comparison, in September / Measures to recover the succession of the property prior to the generation, 17 cities have higher and 63 showed a drop in MOM data. The more the city rich, the more genuine goods are carried out, because point 1 leads the way back. An article in the media in the continent said that the list of “national” national “national” allocation loans had exceeded five billions of CNY “with 3. 73 million finished apartments. The particular article discussed the public business developer in difficulty Vanke, which “located”/ taken “through the local government of Shenzhen, which ended 180,000 apartments.

The value of the value index

The Hang Seng and Hang Seng Tech fell -0.93% and -0.95%, respectively, on volume up +18.74% from yesterday, which is 140% of the 1-year average. 178 stocks advanced, while 309 declined. Main Board short turnover increased by +5.72% from yesterday, which is 148% of the 1-year average, as 16% of turnover was short turnover (Hong Kong short turnover includes ETF short volume, which is driven by market makers’ ETF hedging). Value and large capitalization stocks fell less than growth and small capitalization stocks. The top sectors were materials up +1.15% and technology up +0.62%, while consumer staples fell -2.67%, real estate fell -1.64%, and consumer discretionary fell -1.61%. The top sub-sectors were nonferrous metals, technology hardware, and national defense, while textiles, food, and household appliances were the worst. Southbound Stock Connect volumes were 2x pre-stimulus levels as Mainland investors sold -$680 million of Hong Kong stocks and ETFs, led by HK Tracker ETF and Tencent, a large net sell, Kingsoft Cloud, Meituan, SMIC, and Xiaomi small net sells, Alibaba and Kuaishou small net buys.

Shanghai, Shenzhen, and the STAR Board diverged -0.65%, +0.44%, and +2.9%, respectively, on volume up +15.46% from last Monday, which is 117% of the 1-year average. 3,274 stocks advanced, while 1,744 declined. Growth and small capitalization stocks outperformed value and large capitalization stocks. The top sectors were communication services up +3.22% and technology up +0.99%, while energy fell -2.21%, consumer staples fell -2.07%, and real estate fell -1.56%. The top sub-sectors were internet, software, and education, while soft drinks, motorcycles, and energy equipment were the worst. Northbound Stock Connect volumes were above average. CNY and the Asia dollar index fell versus the US dollar. Treasury bonds rallied. Copper and steel fell.

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