Europe was the main focus yesterday with rate cuts from both the European Central Bank and the Swiss National Bank. The ECB mulled a 50 basis point cut but delivered 25 bps. The SNB, however, led by its new chief Martin Schlegel, surprised markets, announcing a half a percentage point cut. In the US, a raft of data didn’t convince the markets and they closed lower ahead of the Fed meeting next week where the bet is still on for a 25 bps rate cut. Asian markets were uninspired by the outcome of the Chinese Central Economic Working Conference. Richard Tang, Head of Research Hong Kong, supplies the details of this meeting as well as sharing his thoughts on adopting an offensive/defensive stance when it comes to the Chinese equity market.
00:00 Introduction by Helen Freer (Investment Writing)
00:30 Markets wrap-up by Bernadette Anderko (Investment Writing)
05:56 China’s Politburo meeting: Richard Tang (Head of Research Hong Kong)
12:31 Closing remarks by Helen Freer (Investment Writing)
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