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Markets Rise On Epic Foreign Inflow As Internet Stocks Climb The Wall Of Worry, Week In Review

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Week in Review

  • China’s December CPI was released at +1.8% versus November’s +1.6%, meeting expectations of 1.8%.
  • On Wednesday, The World Bank cut its 2023 global GDP growth forecast in half, though it expects China’s GDP growth to be ahead of the pack.
  • The China Passenger Car Association released December and 2022 sales data showing that 4 million EVs were sold in China in 2022, 5X more than in the US.
  • Jack Ma relinquished most of his stake in financial technology giant Ant Group, paving the way for the final regulatory rubber stamp as well as a potential IPO.

Friday’s Key News

Asian equities ended the week in the green, except for Japan and Thailand, while Hong Kong, China, and the Philippines outperformed.

Global equities have had strong year-to-date performance thus far (knocking on wood). A lot of news overnight! What did our China news risk barometer do? Remember, we use China’s currency as a risk barometer to understand if “news” is impactful/something that should concern us. CNY appreciated +0.17% versus the US dollar to close at 6.72! All the negative Western media headlines? The equity market didn’t care as the Hang Seng gained…

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Disclaimer: This report is auto-generated from the various news services (RSS Feeds). pressenachrichten.com holds no responsibility for its content.

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