Saxo Market Call

Unease as Chinese market rout deepens

July 27, 2021

Today's slide deck:   -

The ugly sell-off in Chinese stocks deepened again in late Asian trading after trying to hold a line of support earlier in the session, as the Chinese crackdown on key online companies and industries has lead to an exodus of investors, among those Cathie Wood of the popular Ark Innovation ETF, who announced that she has virtually eliminated Chinese stocks from the funds holdings. The disconnect with US equities, which closed again yesterday near the all-time highs is stark and perhaps unsustainable as the very largest of US companies are set to report in coming days. Key FX stories and pivotal questions as we exit this month also on today's pod, hosted by John J. Hardy.

Intro and outro music by AShamaluevMusic

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