Update on the Chinese market: Yellen's trip to China

Key news from KraneShares: Asian stock markets were mixed but mostly rose, as mainland China failed to achieve growth while Indonesia and Thailand were on holiday. Hong Kong fluctuated but still managed to show a slight gain for the session, although growth stocks performed less successfully. Janet Yellen's visit to China received significant attention after discussions on "overcapacity" in clean technology (electric vehicles and solar energy were highlighted, although the trip turned out to be very productive). Despite negative headlines, Yellen met with Premier Li, People's Bank of China Chairman Pan Gongsheng, Vice Premier He Lifeng, and Finance Minister Lan Fang. Yellen recommended that China focus its economy on domestic consumption, which is already happening after the two sessions. In China, her visit was widely covered in a positive light, although it is unfortunate that her comments on the way out were negative. Nevertheless, the visit will generate numerous diplomatic working streams, and it is reported that Secretary of State Blinken will soon visit China. It is nice to see that diplomatic relations between the US and China are improving, as business people seem to be getting along well with each other. Minister Wang and Chinese electric vehicle manufacturers met with representatives...

...the European Union, however, this information was not covered by American media. Otherwise, it was a fairly light news evening.

...large sales. The preferred ETFs of the National Team (tickers 510300 and 510310) showed average trading volumes, although one of them experienced an increase in trading towards the end of the day. Interestingly, copper futures in China saw a strong rise, increasing by +2.24%. The Hang Seng and Hang Seng Tech indices diverged, closing at +0.05% and -0.18% respectively, with a trading volume increase of +35.67% compared to Friday, which is 102% of the annual average. 310 stocks advanced, while 168 declined...