Key News
Asian equity markets were largely lower as Pakistan was off nearly -3.5% following a largely positive day in the region on Monday. Hong Kong was mixed on Monday as internet stocks underperformed while Mainland China had a strong day.
As we move closer to Chinese New Year and China’s weeklong holiday, which is often referred to as the world’s largest human migration, things are slowing, as evidenced by Hong Kong and Mainland China stock market volumes, Southbound Connect volumes, and slowing metro and traffic conditions, as chronicled by our Major Chinese City Mobility Tracker. We should not overthink the market’s move this week, as we should expect some volatility as volumes get thin.
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