Key News
Asian equities were lower overnight as Hong Kong underperformed.
The lack of a US debt ceiling solution is leading to risk-off sentiment as buyers stand on the sidelines. Western media noted a COVID spike in China, though I’m not seeing anything on this from local media, brokers in China, or research contacts. I will keep an eye out, but it could be clickbait news articles. Meanwhile, the SOE reform and high dividend payers trade has been unwound and profits have been taken as value sectors were off in both Hong Kong and Mainland China.
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