Summary :
• Biden and Xi Jinping spoke for two hours on Thursday morning while Gary Gensler, in a statement to the Center for Audit Quality, said that he needs protocols for a China audit visit to be laid our “soon” to avoid delisting.
Asian equities were mixed overnight as Hong Kong lagged as China’s leaders refrained from mentioning the 5.5% GDP growth target at the Politburo meeting and growth and internet stocks were clipped. This demonstrates that, unfortunately, US technology and internet companies are vulnerable to many of the same risks as China internet.
Real estate was lower overnight in Hong Kong and Mainland China. Mainland investors net sold approximately $90 million worth of Hong Kong stocks overnight via Southbound Stock Connect.
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