Key News
Asian equity markets were higher as Hong Kong, China, and Singapore outperformed, while Indonesia was off more than -2%.
Relatively quiet from a news perspective though Hong Kong volume was strong as the Hang Seng Index gained +1.25%, closing above the 21K level after punching through the 20K level earlier this week. Hong Kong’s growth stocks had a strong day, led by internet stocks with Tencent +1.44%, Alibaba HK +3.32%, Meituan +5.42%, and JD.com HK +2.66%. The dual-listed names didn’t rally as much as the US ADRs yesterday so we could see weakness in the ADRs today.
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