News Snapshot:
China Last Night KraneShares Key News Asian equities had a mixed day as Hong Kong and Japan outperformed and India underperformed. Remember Hong Kong internet outperforming and India underperforming is the active manager pain trade due to their overweight to India and underweight to China. The PBOC cut the 1 Year Loan Prime Rate (LPR) to 3.7% from 3.8% and the 5 Year LPR to 4.6% from 4.65%. Banks use the 1-year rate for lending to households and businesses while the 5 Year is used as a reference rate for mortgages. This follows Mondayu2019s move to cutting the medium-term lending...
