China Conversations: Does the Hong Kong rally have legs?

In this Julius Baer podcast, Richard Tang interviews Hong Hao about the Chinese stock market, particularly in Hong Kong, and its surprising strength despite a perceived weak Chinese economy. Hao suggests that short-term trading isn't always tied to fundamentals and anticipates potential policy interventions. They discuss the divergence in performance between H shares and A shares, attributing it to investor behavior and sector-specific opportunities. The conversation shifts to new consumption trends, highlighting the rise of domestic brands and changing consumer habits, and then contrasts the current "anti-involution" efforts with previous supply-side reforms, noting the more significant challenges now. Finally, they touch on US-China trade relations, with Hao expressing optimism about China's negotiation position and expecting short-term market volatility but an overall upward trend.