The Hang Seng Index and the CSI 300 Index both extended gains by 2%. following the prior day’s larger-than-expected reserve requirement ratio cut. The supportive statement made by the National Administration of Financial Regulation (NAFR) toward the property sector propelled Chinese developers higher. US Q4 GDP came in hot, with annualized growth of 3.3%, well above the expected 2.0%. Meanwhile, Treasury yields fell across the curve following a 25k rise in the initial jobless claims to 214k. The S&P 500 added 0.5% to 4,894, marking a new high for the fifth consecutive day. The Nasdaq 100 was dragged by a 12.1% drop ... (full story)