Investor sentiment towards Chinese equities appears to be improving. The CSI 300 Index, which tracks the performance of the largest stocks traded on the Shanghai and Shenzhen bourses, is up 9% in USD terms from its May 9 low. The…
Listen to a short summary of this report. Executive Summary Chinese Stocks Are Relatively Cheap The Chinese economy faces a trifecta of economic woes: 1) The threat of renewed Covid lockdowns; 2)…
Executive Summary What Will Be The Implications Of China’s Common Prosperity Policies? On the one hand, Chinese stocks are oversold, equity valuations are attractive and investor sentiment is downbeat. This means that a lot…
Executive Summary EU Embargoes Russian Oil The EU imposed an embargo on 90% of Russian oil imports, which will provoke retaliation. Russia will squeeze Europe’s economy ahead of critical negotiations over the coming 6-…
Chinese PMIs from the National Bureau of Statistics surprised to the upside on Tuesday. The services PMI rose from 41.9 to 47.8 in May, exceeding expectations of 45.5. Similarly, the manufacturing PMI increased from 47.4 to 49.6…
Recent data releases from Vietnam have been relatively resilient. The 22.6% y/y increase in May retail sales indicates that domestic demand is robust. And although export growth decelerated to 16.4% y/y from April’s 25% y/y…
After having faced strong selling pressures since the beginning of the year, Chinese stocks have stabilized in recent weeks. Investor sentiment towards Chinese stocks appears to be improving amid positive policy developments.…
Listen to a short summary of this report. Executive Summary US Financial Conditions Have Tightened Significantly This Year US financial conditions have tightened by enough that the Fed no…
Executive Summary KRW vs JPY: A Play On Global Slowdown And Lower US Bond Yields Global financial markets appear to be moving away from inflation worries to pricing in a major growth slump. Global growth is downshifting,…
Executive Summary Credit Demand Collapsed Business activity data from April showed a broad-based contraction in China’s economy. Credit growth tumbled as demand collapsed. Bank loan expansion slowed by the most in…