Monthly Macroeconomic Update - Mar 2019

Monthly Macroeconomic Update - Mar 2019

Thanks for the dovish tone from the Fed, market has a 180 degree turn in interest rate expectation hence supported asset prices.

China’s industrial profit growth saw its weakest since May 2009 but expectations of RRR cut and pump priming continued to support the A-share market.

Hong Kong HIBOR continued to edge higher during the month as funds outflow is increasingly obvious with the HKMA conducting open market operation defending the HK$ peg as it approached the weak side guarantee. 

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