English
Français
Deutsch
Italiano
Português
Русский
Español
ไทย
Türkçe
简体中文
日本語
한국어
हिन्दी
Week in Review
- China’s “Two Sessions” meetings of the 14th National People’s Congress are set to conclude this weekend after an unsurprising week in which a GDP target of “around 5%” was set and key financial regulators were consolidated.
- Trip.com reported a +7% increase in revenue year-over-year to RMB 5 billion compared to an estimate of RMB 4.9 billion, fueled by China’s reopening.
- JD.com reported a +7% increase in revenue year-over-year to RMB 42 billion, which was just shy of analyst expectations though the company’s net income alleviated margin concerns on consumer subsidies.
- The Ministry of Commerce stated Wednesday that it was willing to receive US Secretary of Commerce Gina Raimondo, who expressed an interest in visiting China.
Key News
Asian equities ended the week with a thud as nearly all markets were off -1% as Australia fell more than 2%, Japan fell nearly -2%, and Hong Kong fell -3% on high volumes that increased +61% from yesterday, which is 134% of the 1-year average. Bank contagion fears against the backdrop of potentially more Fed interest rate hikes hit risk assets globally.
Strong February Chinese economic data released after the close was a non-factor.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased
