Maersk earlier said China's economic rebound is weaker than expected:

China industrial profits tumbled by a shock 23% in Jan-Feb from a year earlier, data today showed, underscoring the economy's struggle to emerge from Covid Zero

HSBC shares getting slammed in Hong Kong, -6% and biggest loss on the Hang Seng Index. A foretaste of what's to come when European trading starts? There's growing concern over banks' bond exposures related to Credit Suisse in the wake of its AT1s wipeout.

Credit Suisse confirms it will go ahead with its three-day investor conference in Hong Kong on Tuesday. Fittingly, survival expert Bear Grylls will be among the guest speakers, talking about how to manage stress and build mental resilience.

China says US balloons illegally flew over the country more than 10 times in the past year. The US should “reflect on itself,” Foreign Ministry spokesman Wang Wenbin said at a briefing.

I think the original said High Token of Esteem...

Hong Kong's economy had a bad end to a bad year -4.2% in Q4 vs estimate -2.9% for 2022, -3.5% vs est. -3.1%

Shares and bonds of Adani Group companies sank again on Monday, with stock losses sparked by the short seller report amounting to $72 billion

Hindenburg statement here: Adani's earlier statement here:

Hindenburg just issued its response to Adani's 400 plus page rebuttal, says the company failed to answer 62 of its 88 questions; and core allegations were completely unaddressed

no

Hong Kong health secretary will brief the media at 4 pm - will he announce the end of mandatory mask wearing?

China's population fell last year for the first time since 1961 -- during the Great Famine. Population dropped by 850,000 to 1.41 billion, according to statistics bureau. 9.56 million babies were born in 2022, lowest number since at least 1950

Better-than-expected Dec. data out of China as the govt abandoned Covid Zero. Yoy Retail sales -1.8% vs est. -9% Industrial output 1.3% vs est. 0.1% Fixed asset investment: 3.2% Home sales -27% Property investment -12% Youth unemployment 16.7% Q4 GDP: 2.9% vs est. 1.6%

Sell Tesla buy China has been a very profitable trade since the end of October

Beautiful day in Hong Kong

Hong Kong paid a steep cost for its isolation. With @jdisis via @economics

There are clear signs the health-care system is being overloaded, and that is in rich cities such as Beijing and Shanghai https://t.co/gy5cLcFfhq

It's unclear how the health regulator is calculating those numbers, given the country shut down its network of PCR booths earlier this month. China stopped publishing full details of new infections last week as it allowed the virus to spread unchecked. https://t.co/byqYrl5p47

If ever there was not a perfect time to reopen HK's border with the mainland, it's probably about now. https://t.co/BWWeQoZro6

China's rapid U-turn on Covid Zero means state mouthpieces are now saying the opposite of what they argued just months or weeks earlier. We put some of the most glaring examples together in this story. With @creery_j and @selinaxuxinyue https://t.co/hllHVWe1OE

Something hypnotic about this https://t.co/wxmskAhkkP