Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Macroeconomics

<ul>
<li>Further weakness in the JPY poses a risk to RMB stability</li>
<li>If major stimulus is unleashed in China, it is likely the RMB will weaken</li>
<li>Continued incremental easing will benefit the economy in the long term but may disapoint equity investors looking for a quick fix despite Chinese data improving</li>
</ul>


Further weakness in the JPY poses a risk to RMB stability
If major stimulus is unleashed in China, it is likely the RMB will weaken
Continued incremental easing will benefit the economy in the long term but may disapoint equity investors looking for a quick fix despite Chinese data improving


Is a Major RMB Depreciation on the Cards?

<ul>
<li>Headline numbers disappoint investors hoping for a massive stimulus plan</li>
<li>"Around" 5 percent GDP growth should not be considered weak</li>
<li>Messages from the Two Sessions supports a positive outlook on China equity markets</li>
</ul>


Headline numbers disappoint investors hoping for a massive stimulus plan
"Around" 5 percent GDP growth should not be considered weak
Messages from the Two Sessions supports a positive outlook on China equity markets


China Two Sessions Output Gives Cause for Confidence

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

<ul><li>Welcome to this week’s edition of our EM-angled editorial, which comes hot on the heels of the PBOC Key Ministry Briefing.</li><li>So, where better to turn first than China?</li><li>Findings in brief: More stimulus for the Chinese economy and markets; Spill-overs to manufacturing/China sensitive geographies and currencies; Both EM (particularly Asian) equity and FX appear cheap.</li></ul>

Welcome to this week’s edition of our EM-angled editorial, which comes hot on the heels of the PBOC Key Ministry Briefing.So, where better to turn first than China?Findings in brief: More stimulus for the Chinese economy and markets; Spill-overs to manufacturing/China sensitive geographies and currencies; Both EM (particularly Asian) equity and FX appear cheap.

EM Stimulus Showdown: From Beijing with Boost to EM?

Geopolitical Analyst, Steno Research, Steno Research

Mikkel Rosenvold

Geopolitical Analyst, Steno Research

<ul><li>Welcome to this week’s Great Game where we turn our attention to China.</li><li>The Communist Party is annual National People’s Congress where Premier Li Qiang (Xi’s right hand man) delivered a very noteworthy speech on the Central Committee’s financial and political plans.</li><li>Watching a speech from a Chinese politician is a very different beast from watching top US politicians address the masses.</li></ul>

Welcome to this week’s Great Game where we turn our attention to China.The Communist Party is annual National People’s Congress where Premier Li Qiang (Xi’s right hand man) delivered a very noteworthy speech on the Central Committee’s financial and political plans.Watching a speech from a Chinese politician is a very different beast from watching top US politicians address the masses.

Podcast hosted by Hedgeye CEO Keith McCullough, Real Conversations

Real Conversations

Podcast hosted by Hedgeye CEO Keith McCullough

Hedgeye is an investment research and financial media company founded in 2008. Our core principles are transparency, accountability and trust. Hedgeye’s Real Conversations series, hosted by CEO Keith McCullough, brings together the brightest minds in the business to cut through the noise and discuss the financial market moves that actually matter.LEGALThe opinions expressed in Hedgeye Real Conversations are those of the individual speaking and not of Hedgeye, and should not be construed as specific investment advice. Hedgeye® is a registered trademark. All Hedegye Real Conversations are the intellectual property of Hedgeye. All rights reserved.

<ul><li>Bullish trend in China and interest rates, with signaling processes indicating potential upward movement</li><li>Focus on risk management and waiting for corrections before buying or selling</li><li>Emphasis on long cyclicality and avoiding rate-sensitive sectors likely to be negatively impacted by rising interest rates</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Bullish trend in China and interest rates, with signaling processes indicating potential upward movementFocus on risk management and waiting for corrections before buying or sellingEmphasis on long cyclicality and avoiding rate-sensitive sectors likely to be negatively impacted by rising interest ratesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Hong Kong

The Hang Seng Index is a free-float capitalization-weighted index of a selection of companies from the Stock Exchange of Hong Kong. The components of the index are divided into four subindices: Commerce and Industry, Finance, Utilities, and Properties. The index was developed with a base level of 100 as of July 31, 1964.

Hang Seng Index (HSI INDEX)

Is a Major RMB Depreciation on the Cards?

Potential signs of major stimulus excites markets but could weaken the RMB. Continued incremental easing in China may disappoint equity investors...

Rikki Malik

China Two Sessions Output Gives Cause for Confidence

While Investors may be disappointed by the lack of a major headline stimulus plan, the details offer more hope andvwe still believe China and...

Rikki Malik

EM Stimulus Showdown: From Beijing with Boost to EM?

Welcome to this week’s edition of our EM-angled editorial, which comes hot on the heels of the PBOC Key Ministry Briefing. So, where better to...

Steno Research

3 Take-Aways from Li Qiang’s Speech

Welcome to this week’s Great Game where we turn our attention to China. The Communist Party is annual National People’s Congress where Premier Li...

Steno Research

The Macro Show | February 27, 2024

The morning started early with a call at 4:30 AM, discussing China's bullish trend, potential interest rate hikes, and sector impacts, leading to...

Real Conversations

Is a Major RMB Depreciation on the Cards?

Potential signs of major stimulus excites markets but could weaken the RMB. Continued incremental easing in China may disappoint equity investors...

Rikki Malik

China Two Sessions Output Gives Cause for Confidence

While ​Investors may be disappointed by the lack of a major headline stimulus plan, the details offer more hope andvwe still believe China and...

Rikki Malik

EM Stimulus Showdown: From Beijing with Boost to EM?

Welcome to this week’s edition of our EM-angled editorial, which comes hot on the heels of the PBOC Key Ministry Briefing. So, where better to...

Steno Research

3 Take-Aways from Li Qiang’s Speech

Welcome to this week’s Great Game where we turn our attention to China. The Communist Party is annual National People’s Congress where Premier Li...

Steno Research

The Macro Show | February 27, 2024

The morning started early with a call at 4:30 AM, discussing China's bullish trend, potential interest rate hikes, and sector impacts, leading to...

Real Conversations

While Investors may be disappointed by the lack of a major headline stimulus plan, the details offer more hope andvwe still believe China and...