Key News
Asian equities were mostly higher overnight despite Wall Street’s pessimism on Friday. Mainland markets underperformed Hong Kong, a dynamic that we have not seen in a while and leading up to important releases of Q1 GDP, retail sales, and industrial production, all expected tomorrow (this evening in NY).
PBOC Chair Yi Gang made statements at the IMF Conference regarding the reform of China’s banking sector. The central bank chief said that consumption and services continue to rebound in China while many small and medium-sized financial institutions have made significant progress in reforming their businesses and improving their risk management practices.
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