Asian stocks tracked Wall Street higher on Friday, with China's A50 hovering around 15,000. Saudi Arabia's critical pipeline to the Red Sea suffered a recent attack from Iran, cutting throughput by 700,000 bpd.
Foreign investors pulled $70.3 billion from emerging market assets, especially Asian stocks, in March, the biggest outflow since the pandemic rout in March 2020, according to the report from IIF.
Major global banks now expect the PBOC to keep official interest rates steady this year, as the banking system has shown sign of abundant liquidity since the start of the month.
The global race for energy security is making China stronger, according to Deutsche Bank. Low-carbon sources now account for close to 40% of the country's electricity generation.
A new wave of demand for renewable energy would sift out clean-tech winners, a boon to the government-driven anti-involution campaign that is aimed at tackling deflation.
Producer prices for the first time in more than three years in March, while consumer inflation slightly missed expectations. However, analyst say rise in the input costs could further squeeze manufactures' margins.
The A50 rallied this week, but the death cross formed at the end of March painted a dim picture. Without progress in the negotiation between Iran and the US, it could retest the weekly low around 14,400.
Asset recap
As of market close on 9 April, among EBC major products, Constellation Brands shares led gains after management said it was seeing signs that Hispanic consumers are buying more of its beer again.
UBS analyst downgrades ServiceNow to a hold rating, and adjusts the target price from $170 to $100. The software company said it was 'AI-enabling' its entire product suite to turbocharge enterprise automation.
The Australian dollar stayed near a 3-week high and on track of its strongest weekly gain since mid-January, as the ceasefire deal in the Middle East helped bolster risk sentiment.
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