China and HK Equities Mostly Higher, Tech Sector See-Saws

Hong Kong & China equity markets have opened higher this morning however volatility remains, as we swing between being up 1% to flat in a matter of minutes.

• Hong Kong Equities are see-sawing again today, the HSI is up 0.30%, after being up almost 1% at one stage, with tech names are leading the volatility, the HStech index now down 0.10% after being up 1%, while the mainland property index is outperforming up 1.20%
• China equities are slightly higher today, with the CSI300 up 0.32%, while the Shanghai Composite hit 3,000 for the first time trading just off those levels at the moment, to be up 0.34%.
• As has been reported earlier this week the CSRC has banned some institutional investors from selling stock on the open and close of market, however the CSRC on Thursday says although it has taken measures to regulate "abnormal trading" it has not restricted the selling of stock in the market.
• China recently released Home price data, with New Home prices falling -0.37% from -0.45% prior, while Existing Home prices fell -0.68% from -0.79% prior, this represents a slight improvement on the December data.
• The number of foreclosed properties for sale in China rose 48% in January up from 37% a year earlier signaling the country's ongoing economic slowdown, while these foreclosed residential properties were sold at an average discount of 23% in January.
• Looking ahead to next week and the calendar remains very light, Hong Kong has Trade Balance data on Tuesday & Retail Sales on Friday, while China has PMI data on Friday