- Sector share prices slip post-GCP deal
- Yield compression highlights fundamentals
President Xi Jinping’s failure to attend COP26 this month in person was widely seen as a snub to multilateralism and another sign of Chinese self-isolation. But to China watchers, the no-show came as little surprise. Since Covid-19 first hit, Xi has not left the country, and stringent efforts to contain the virus have meant international travel remains almost impossible for the average Chinese citizen.
While China’s engagement in climate negotiations matters to everyone in the long run, the free movement of its citizens is of particular concern to one listed sector right now, and key to its potential re-rating back to historic levels.