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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
- The sharp contraction in Chinese 'liquidity' combined with the deceleration in the economic activity continues to weigh on tech stocks, which have been constantly testing new lows in the past few months and are down over 40% since their February peak .
- The chart below shows that China tech stocks have been very sensitive to periods of sharp contraction in liquidity, which we measure as the annual change in the China Total Social Financing 12M sum.
- We have seen recently that the significant consolidation in domestic asset prices has also led to a deterioration in Chinese sentiment indicators, with manufacturing PMI falling below the 50-percent level for the first time since February 2020.
- What could support asset prices in the coming months if global liquidity and the economic continue to decelerate?
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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