IMF Raises China’s GDP Forecast As Mainland Investors Buy HK Dip

Key News

Asian equities were mostly lower as South Korea underperformed after their short sale ban yesterday, while Taiwan and the Philippines managed small gains.

The US Treasury Yield inched higher yesterday, leading to a stronger US dollar as celebrity central bankers joust for TV time. Hong Kong was hit with a bout of profit taking on moderate volume while the Mainland market was mixed on high volume. Mainland investors bought a very healthy $1.223 billion of Hong Kong ETFs and stocks with a very large net inflow into the Hong Kong Tracker ETF, with two other Hong Kong ETFs seeing small net inflows. No announcements from sovereign wealth fund Central Huijin on ETF purchases, though they have been focused on Mainland China versus Hong Kong.