Hedge Funds Pull Out of Asian ADRs in March
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#47b83c66 ver:0.09
Asian stock markets closed their strongest month in 10 months, driven by a positive global interest rates outlook and signs of economic recovery. The MSCI Asia-ex-Japan stocks index gained 6.9% this month, marking the best month since January. South Korea's KOSPI led the rally in Asia with 10.6% gains, followed closely by Taiwan and Japan's Nikkei. Despite disappointing Chinese manufacturing data, Hong Kong's Hang Seng Index and China's benchmark CSI300 Index also rose. The positive sentiment is driven by a relatively benign global interest rates outlook and signs of economic recovery. U.S. financial conditions have eased, and U.S. rates futures markets are now pricing in more than 100 basis points of rate cuts next year starting in May. However, analysts warn that equities are now richly ...
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