Asian markets rally, a sea of green across the region – Asian Midday Marketwatch

Kelvin shares his insights on regional markets and gives his views on:

• Stock markets’ performances in the first half of the day which is positive overall for regional markets
• The cryptocurrency rallies, topping US$55,000 and hitting its highest level since mid-May. Regulatory fears have eased this week after both Treasury Secretary Janet Yellen and SEC chair Gary Gensler say they have no plans to impose restrictions on cryptocurrency trading
• The temporary raising of the debt ceiling in the US has boosted markets across the region
• Hong Kong-listed shares of Chinese Estates, formerly a major shareholder of embattled developer China Evergrande, surges more than 30 percent after announcing yesterday that it had received an offer to be taken private

Kelvin shares his view on what the Chinese authorities playbook is, and highlights the fact that many foreign bond holders be left holding the baby. He talks about energy prices and how the shift to ESG has led to underinvestment in the oil and gas sectors, and is bullish on oil and gas prices in the near term because of several factors.

Guest: Kelvin Wong, Market Strategist at CMC Markets

Presenter: Brian Fernandez

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