Bargain-hunting lifts EM assets as China moves to defend itself in trade war against US

China factor: Chan believes that the Chinese stock markets can look forward to more policy announcements for measures that are already in the pipeline, which may be a source of upside surprise.

Trade war mania and emerging market routs have been driving markets, and for now they do as if the reversal is taking place.

This past Monday, US President Donald Trump announced additional tariffs of 10% on roughly US$200bil of imports from China, starting Monday.