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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CHINA
- China Premier Li Keqiang reiterated that he sees room in policies to cope with the current economic and market challenges.
- Officials are trying to boost confidence in markets with more and more analysts revising 2022 growth forecast significantly to the downside.
- It seems that a 4% growth looks now much more realistic than the 5%-5.5% growth target (from China officials); and renewed estimates could easily be readjusted to the downside as market uncertainty remains elevated.
- Even though China officials have been announcing a series of ‘positive’ measures for risky assets in recent weeks (cutting transactions fees, pause on tech crackdown…), domestic equities have remained vulnerable with Hang Seng index still down nearly 35% since its February 2021 high.
- The chart below shows that the rebound in ‘liquidity’ has been pricing in higher tech stocks; however, we recently mentioned that it will be difficult to see China tech stocks trending higher while Nasdaq remains in a bear market.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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