MONDAY, SEPT 21, 2026 — China/HK are bid on Trump-Xi meeting hopes, the yen is vulnerable after the BOJ disappointed, and cooling oil has Sensex +400/Nifty near 23,400. Those are the three stories dri

Pacific island states are trapped in Cold War 2.0, and Japan-China ties are withering as Trump readies a red carpet for Xi. Watch this: every US-China headline now hits HK/China risk premium instantly. China and Hong Kong stocks are rising as investors await the Trump-Xi meeting. This is the cleanest regional risk-on signal — if the meeting firms up, expect continued bid in platforms/tech and China ADRs. Yen is vulnerable with Japan on holiday after the BOJ disappointed. With Tokyo cash closed, USD/JPY can gap on thin liquidity; intervention risk is higher. Bad signal for carry, messy for Nikkei futures. North Korea stayed quiet on Sunday’s missile launches. Markets are shrugging unless the US/Japan response escalates — Kospi can trade on chips and FX, not headlines. India: Sensex jumped 400 points and Nifty neared 23,400 as oil cooled despite Middle East tensions. Lower crude is a direct INR/duration tailwind — watch OMCs, paints, aviation. FPI derivatives bets hit a record high amid

Pacific island states are trapped in Cold War 2.0, and Japan-China ties are withering as Trump readies a red carpet for Xi. Watch this: every US-China headline now hits HK/China risk premium instantly