SINGAPORE/HONG KONG : Chinese stocks soared and the yuan jumped on Friday, setting Hong Kong's Hang Seng on course for its best week in a decade, on hopes for twin relief in U.S.-China tension and COVID rules.
Bloomberg News reported initial U.S. inspections of audit papers at U.S.-listed Chinese companies - a long-running point of regulatory tension and risk - finished ahead of time, raising hopes that the U.S. officials were satisfied. "The optimism right now is basically a removal of certain types of uncertainties that have been lingering ... but the outlook is really mixed," said Peiqian Liu, China economist at NatWest Markets in Singapore.
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aldotjahjadi8 False hope? March 2023 is still an 'if', not a 'when'.