China Market Update: Domestic Consumption Stays Resilient
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Key NewsAsian equities had a good day as fewer tariffs meant markets were up. India had a strong day following yesterday’s market holiday, Vietnam was off, and Thailand remained closed for the Songkran Festival.Hong Kong and Mainland China bounced around the room, posting small gains, though expected US tariffs on semiconductors and pharmaceuticals weighed heavily on those subsectors along with technology hardware. Bloomberg News reported that China has stopped importing Boeing airplanes, according to “people familiar with the matter.” I’ve not seen this confirmed, but with China’s reciprocal tariffs, taking delivery and paying 2X makes no sense. I would recommend waiving the tariff to allow Boeing parts for the sake of Chinese airlines and their passengers!After the close, Premier Li was in the headlines, stating that the government would “…expand domestic demand in all directions, calmly deal with the difficulties and challenges brought about by external shocks, and promote consumpti...