Week in Review
- It was a choppy week of trading for Asian equities as China released lower-than-expected imports, exports, loan growth, and CPI figures while US inflation showed further cooling in April.
- Automaker Li Auto and car dealer Autohome both released positive results for the first quarter this week, as total sales in China are rebounding, up over +50% year-over-year.
- E-Commerce giant JD.com kicked off internet earnings season with a clean beat on first quarter revenue.
- Value stocks outperformed early in the week while growth stocks made a comeback as the week ended, including last night.
Friday’s Key News
Asian equities were mixed but mostly lower overnight.
Mainland markets were lower because of slow loan growth reported yesterday. China’s recovery may need further policy support to keep it going, which should be viewed as a positive.
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