In August, the fate of the so-called “Magnificent Seven” has begun to diverge. Nvidia (NVDA), Amazon (AMZN), and Alphabet (GOOG) have far outperformed Apple (AAPL), Microsoft (MSFT), Meta Platforms (META), and Tesla (TSLA). Looking at the heat map from Finviz, the rest of the S&P 500 seems pretty mixed. Source: Finviz The market staged a recovery towards the end of August after Jackson Hole, despite hawkish comments from Fed chair Jerome Powell. Quick check of CME FedWatch Tool, the market expects the Fed to maintain rates at the FOMC on 20 Sep 2023. Source: CME FedWatch Tool Over in China, the stock market has been back and forth between cheering some government easing actions, yet worrying that the Chinese authorities might be too conservative in their policy actions. Recently, Chinese states have eased mortgage rules in a bid to revive the property sector. On the flip side, Chinese banks have reported rising bad property loans. Another large property developer Country...