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Are Equity Markets Starting To Price In China Risk?
Market Depth
The PBOC Rate Cut and the HangSeng Equity Market Reversal Rally
Despite the 10 basis point cuts across the board for this round of easing, I could say that it would be reasonable for some to expect the asymmetric cut to five year LPR. There's been a lot of jumping the gun optimism to price out from this month in markets in China and Hong Kong. The Chinese cabinet met last Friday to discuss these broad based stimulus package that was twice supported by Bloomberg, but nothing concrete out of there. And so therefore, a widely expected PBOC stimulus measure in the near term would likely not revive the China reopen sentiment at anywhere near that level of one way consensus optimism.
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