China Internet Rallies As Mainland Investors Buy Overnight

Key News Asian equities were mixed, but mostly higher overnight as Mainland China continues to lead Asian index gains this week. Internet names and growth stocks generally made a comeback in Mainland China overnight on strong volumes, after seeing some pressure in yesterday's session. Mainland investors piled into Tencent and Meituan overnight via Southbound Stock Connect buying a net HKD 1.5 billion and 1.2 billion worth of stock in the two internet companies, respectively. It appears that Bytedance may go through with its much-anticipated IPO on the Hong Kong Stock Exchange. The internet company runs the popular video social media…