Posted 12/28/2023, 4:23:37 PM
Asian Markets Rally on Weak Dollar and Hopes for Policy Support
- Asian equities rally, with Mainland China and Hong Kong outperforming as US dollar weakens overnight
- Hong Kong and China see strong market performance, marked by strong breadth and volumes, with clean technology sector outperforming
- Chatter that interest rate cut, Social Security Fund equity allocation increase, and CSRC clampdown may be coming contributes to rebound
- Foreign investors buy nearly $2 billion of Mainland stocks via Stock Connect overnight
- Growth stocks favored by domestic and foreign investors outperform in Mainland market, though breadth not as strong as in Hong Kong