Key News Asian equities were largely higher as China outperformed while Japan, India, and Indonesia were off slightly. US-listed China internet stocks fell yesterday despite strong results from Kuaishou and NetEase. Given the exact same information, US investors sold NetEase’s ADR, which fell by -1.68% yesterday. However, NetEase’s Hong Kong shares gained +3.05% overnight. Kuaishou (1024 HK) gained +2.6% after the company released positive financial results. Yes, we had a sharp US equity decline yesterday. Yes, we had a Wall Street Journal article quoting the PCAOB on efforts to resolve the long running audit issue. We also had the SEC’s...