In today’s briefing:
- China & HK Banks: Optimism Fading
- 5 Things We Watch: Higher For Longer, the Consumer, Core Prices, Energy Prices and Cyclicals
- CX Daily: Malaysia’s New Trade Minister Explains Why China Matters to Southeast Asia
China & HK Banks: Optimism Fading
- Allocations in China & HK Banks are at depressed levels. The percentage of funds with exposure has fallen from a high of 78% in 2011 to just 58.2% today.
- More funds have exposure to Mexico, Brazil and Indonesian Banks. Versus benchmark, China Banks are the 2nd largest Bank country underweight.
- For the major stocks in the sector, we see a picture of low positioning and declining sentiment.
5 Things We Watch: Higher For Longer, the Consumer, Core Prices, Energy Prices and Cyclicals
- The higher for longer narrative is tattooed all over the current market
- But if the economy is actually rebounding it is not bad news for risk assets
- Something has to give. Either rates and equities go up in tandem or else the current narrative is wrongfooted
CX Daily: Malaysia’s New Trade Minister Explains Why China Matters to Southeast Asia
- China-Malaysia /: Q&A: Malaysia’s new trade minister explains why China matters to Southeast Asia
- Security /: China spells out ‘Global Security Initiative’ for international conflict settlement
- ChatGPT /: Chinese educators should embrace ChatGPT as part of reform, experts say
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