Key News
Asian equities were lower overnight with Mainland China still on holiday until tomorrow.
Hong Kong was lower though not nearly as much as US-listed China ADRs yesterday. Yesterday’s bear raid took advantage of Asian investors being on vacation as there was no news except some clickbait nonsense. If you get the sense I’m annoyed you are correct! Shorts/sellers dictated yesterday’s narrative as the geopolitical overhang kept buyers on the sidelines. Yes, US stocks were awful yesterday as the US bank crisis spreads in advance of the Fed’s interest rate hike today and investors waking up to the debt ceiling issue.
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