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Asian equities were lower in quiet trading, with India closed for Holi. Hong Kong and Mainland China stocks fluctuated throughout the day, with tech stocks underperforming on news that Chinese government agencies will curtail purchases from AMD and Intel. AMD’s CEO Lisa Su is in China for the China Development Forum, along with other prominent business leaders. Ant Group’s CEO remains on the agenda, despite some uncertainty around his position. Wuxi Biologics and Wuxi AppTec saw gains on news of Representative Mike Gallagher’s retirement.

Janet Yellen is set to visit China next month, according to Politico. Hong Kong’s most traded stocks included Meituan, Tencent, Alibaba, Hong Kong Exchanges, and Ping An Insurance. Baidu gained on news of Apple’s use of their AI on Chinese iPhones. Southbound Stock Connect saw a swing in ETF redemptions, while Northbound Stock Connect saw $722 million worth of net buying. The Hang Seng and Hang Seng Tech indexes fell on lower volume, with 185 advancers compared to 300 decliners.

In Shanghai, Shenzhen, and the STAR Board, stocks fell on moderate volume. The value factor posted a positive return, while the growth factor posted a negative return. Top-performing sectors included Real Estate, Energy, and Utilities, while Communication Services, Technology, and Health Care fell. Northbound Stock Connect saw foreign investors buying a net $772 million worth of mainland stocks. CNY and the Asia Dollar Index appreciated versus the US dollar, while Treasury bonds fell. Copper and steel prices were down.

Upcoming webinars include a discussion on plugging the electric vehicle opportunity into investment portfolios. Recent articles have focused on applying defined outcome strategies in China’s internet sector. Exchange rates, prices, and yields saw minimal changes compared to the previous day. Overall, Asian equities faced challenges in the market, with tech stocks underperforming and uncertainty around key figures in the business world. Traders and investors are keeping a close watch on developments in China and globally to navigate the market effectively.

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