Key News
Asian equity markets were mixed on light volumes in advance of today’s US CPI print.
Overnight was a Tale of Two Chinas: Onshore (Mainland/domestic investors) versus Offshore (Hong Kong-US ADRs/foreign investors), as both performance and volume diverged. Mainland China investors cheered yesterday’s economic release with small gains on high volumes while Hong Kong fell on light volumes. China’s credit expansion will be a driver of economic growth, while M2 provides a nice tailwind for stocks.
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