Sean(@SeanOnTheTape):The buying has shifted back toward banks and defensives. This week's desk flows showed selling in Hong Kong technology, reversing last week's selective growth buying. China's September PPI rose 5.0% year on year, while core CPI held at 1.0%. Energy and raw materials drove much of the producer-price increase, leaving a widening gap between upstream price pressure and consumer pricing.

2026.10.22 12:40

The buying has shifted back toward banks and defensives. This week's desk flows showed selling in Hong Kong technology, reversing last week's selective growth buying. China's September PPI rose 5.0% year on year, while core CPI held at 1.0%. Energy and raw materials drove much of the producer-price increase, leaving a widening gap between upstream price pressure and consumer pricing.