Alibaba Results Provide a Glow to Asian Equities (Hang Seng +17% Year-to-Date!)

Asian markets rise amidst China trade deal buzz

Highlights

• Asian markets rise amidst China trade deal buzz

• Equity market internals don’t look encouraging

• U.S. economic outlook faces multiple downside risks

• Walmart issues soft guidance on consumers

Key Takeaways

• Asian Equities Outshine Global Peers: There isn’t much action going on in U.S. equity futures or in the European trade (but regional stocks in Europe have posted their best start to any year since the late 1980s), but there sure was in Asia where the region responded to those solid financial results out of Alibaba: Hong Kong’s Hang Seng (one of our most-liked markets in the region) soared +4% and is now up a resounding +17% year-to-date.