| China eases restrictions in iPhone city. US-listed Chinese stocks set for their best month ever. HSBC sells its Canadian banks. Here's what you need to know today. Hours after lifting Covid lockdown restrictions in the Chinese city dominated by Apple's largest manufacturer, authorities once again shut down hundreds of buildings. China said late Tuesday it was lifting a lockdown of Zhengzhou put in place five days ago as Covid cases climbed, but then issued a lengthy list of buildings that would be declared high risk and would continue to be subject to curbs. The move came after China's top health officials reinforced an order for local cadres to avoid excessive curbs to contain the virus, following weekend protests. China has vowed to bolster vaccination among senior citizens, a move regarded by health experts as crucial to reopening. Chinese stocks listed in the US are on track for the best month ever as investors grow more encouraged about a potential shift away from strict pandemic policies. The Nasdaq Golden Dragon Index surged 5.1% after Beijing vowed to speed up Covid shots for the elderly, leaving the benchmark of US-listed Chinese shares up 30% in November. Chinese stocks in Hong Kong also rose, putting the Hang Seng China Enterprises Index on track for its best month since 2003. More broadly, Asian stocks today look set to follow US equities lower.  | India's newest financial hub is rising from scrubland in the state of Gujarat — and hopes it can take on the likes of Singapore and Dubai. Gujarat International Finance Tec-City is home to some 20,000 employees of companies such as JPMorgan and HSBC. So what's drawing these companies to the unlikely location? An exemption from the many rules and taxes that hamper business and trading in the rest of the country. Read our Big Take on the finance world's unlikely new player here. Meanwhile, Asia's richest man, Gautam Adani, is the highest bidder in an ambitious project to remodel the world's largest slum. Royal Bank of Canada agreed to buy HSBC's Canadian unit — the country's seventh-largest bank — for C$13.5 billion ($10 billion) in cash, expanding its roster of business clients as HSBC focuses on Asia. The sale will boost HSBC's core capital ratio by 130 basis points, putting it in excess of the bank's target level and giving it room to hand more money back to shareholders. HSBC said it was "proactively" considering paying a one-time dividend or a fresh stock buyback — good news for investors who have grown frustrated with the bank's returns in recent years. North Korea hasn't said whether she has any siblings. Her age remains a mystery. The world doesn't even know her name. The important thing is that she's the "most beloved" daughter of Kim Jong Un. The girl, who is thought to be about nine years old, has suddenly been featured in North Korean state media alongside her father, recently accompanying Kim to witness the successful launch of a new intercontinental ballistic missile. The event sent a clear signal to the wider world: The Kim regime is here to stay. Get the full story here.  Kim Jong Un with his daughter after the launch of Hwasong-17 ICBM. Photographer: AP Photo/KCNA via KNS Equities are calming down a bit as we roll into the end of November, outside of China's frenetic markets. Investors may be feeling some trepidation considering the past two times global stocks bounced this way they then slid down to fresh post-pandemic lows. Stocks look vulnerable over the medium term, given that global and US manufacturing surveys of purchasing managers paint a pretty ugly picture for the economic outlook. Monetary policy acts with a lag and most Fed speakers are calling for a sustained period of restrictive settings, so that makes it hard to see how the business environment is headed for the sort of turnaround equities seem to be pricing in. That adds to the potential for reversals with Federal Reserve Chair Jerome Powell due to speak later on Wednesday. Garfield Reynolds is Chief Rates Correspondent for Bloomberg News in Asia, based in Sydney, | 
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