We Turned More Cautious Towards Hang Seng, Says Morgan Stanley's Garner

The transcript discusses the impact of currency fluctuations on Hong Kong's market, highlighting the negative effects of the yuan's weakness. It examines broader Asian market trends, emphasizing the importance of export components. Economic concerns in Asia are analyzed, focusing on market cycles in autos and smartphones. The transcript compares market revisions between the US and Asia, noting the positive impact of US tax cuts. Finally, it addresses trade issues and Chinese industrial policy, stressing the economic impact of protectionism on Asia.

In what ways are Asian markets more sensitive to economic cycles compared to the US market?

What is the significance of trade and tariff protectionism for Asia's economies?