RAYC - Asia Game Theater Update: Long Chinese Equities

• We’ve recently updated our Asia game theater, and although these changes partly reflect the recent regulatory crackdown in China, our update was independent of recent Chinese equity market volatility.
• Incentives appear to be aligning for increasing rhetoric between the United States and China.
• In our opinion, headwinds are more likely to persist for the near term in the IT sector, particularly relating to isolation on national security grounds.

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