The Asia Eight

Daily must-reads from the world’s most dynamic region

February 19, 2021

1 TOP STORY: China focuses on consumption, promotes self-sufficiency

2 ATF TV: China’s wealthy-hating complex

3 NEWS: Flexibility is key to fixed income in 2021

4 ASIA MARKETS: Steepening yield curve halts risk rally

5 NEWS: Trump loyalist attacks Webull at GameStop hearing

6 NEWS: Japan exports boom as services sector remains in Covid-19 slump

7 NEWS: Declarations of force majeure over Texas storm freeze

8 ATF BIG PICTURE: Comparing cryptocurrencies

01 Top Story China pivots towards consumption

China's dual circulation strategy is not a pivot away from exports but marks a shift in focus to consumption away from investments.

02 ATF TV China’s wealthy-hating complex

The wealthy-hating complex is rather strong in China, says Ivan Platonov from EqualOcean. The increasingly negative public opinion about Alibaba is not the only challenge; in fact, it is just the tip of the iceberg. 

03 Where next for bond yields?

Traditionally, fixed income has been a diversifying asset class that typically performs well when risk markets such as equities sell off. However, many are questioning whether this approach is still as effective with bond yields so low — and with good reason.

04 Asia Markets

Japan’s Nikkei 225 index slipped 0.72%, Australia’s S&P ASX 200 tumbled 1.34% but Hong Kong’s Hang Seng index edged up 0.16% and China’s CSI300 added 0.18%.

05 Trump loyalist attacks Webull

A Congressional hearing on the Reddit-driven volatility in GameStop gave a Trump loyalist politician an opportunity to attack Chinese-owned online broker Webull, which competes with Robinhood, the app at the heart of the retail trading frenzy.

06 Japan’s export boom

Japan's factory output expanded for the first time in 22 months in February, new data showed, as strong export demand helped manufacturers shake off effects of the lingering Covid-19 pandemic.

07 US chemical giant declares force majeure

US chemicals giant Celanese declared force majeure on Thursday February 18, saying it was unable to deliver to Asia because of the severe weather conditions in Texas, becoming the latest victim of a storm system disrupting global supply chains.

08 ATF Big Picture