Asian equities closed mixed with Hong Kong managing a small gain, while Mainland China underperformed. Janet Yellen visited China, discussing clean tech and domestic consumption. CNY backed up to 7.23 per USD due to US interest rates. In Hong Kong, Tencent and Meituan fell, while Alibaba gained. Mainland China saw strong travel data but underperformed, with green building development gaining attention. The Hang Seng and Hang Seng Tech indexes closed slightly higher and lower, respectively.
In Hong Kong, the Hang Seng and Hang Seng Tech indexes closed with slight gains and losses, respectively. The most heavily traded stocks were Tencent, Meituan, Alibaba, CNOOC, and AIA. Mainland China underperformed despite strong travel data, with copper futures gaining. In Shanghai, Shenzhen, and the STAR Board, utilities performed well while consumer staples and real estate fell. Northbound Stock Connect volumes were high with foreign investors selling a net -$420 million worth of Mainland stocks.
Upcoming webinars include a China Q1 review and an investment strategies webinar. New content includes an article on Nvidia’s rise fueled by chip giants TSMC and SK Hynix. Exchange rates and prices remained steady, with CNY at 7.23 per USD and yields on government bonds slightly changing. Overall, the Asian equities market saw a mix of gains and losses, with China’s underperformance being offset by positive developments in Hong Kong. Janet Yellen’s visit to China also drew attention, with discussions on clean tech and domestic consumption.
