May 22, 2024 03:17 GMT
China & Hong Kong Equities Head Higher After Tuesdays Sell-Off
ASIA STOCKS
Hong Kong & Chinese equities edged higher, there has been very little in the way of domestic drivers today with no economic data out for either region. Short positions have increased against iShares China Large-Cap Fund & iShares MSCI China ETF, while short positions against iShares MSCI EM Ex-China fund fell to near zero, in a sign investors may think the recent equity rally has come to an end.
- Hong Kong equities are mostly higher today with property leading the way, the Mainland Property Index is up 2.30%, while the Hang Seng Property Index is up just 0.50%, the HSTech Index is up 0.50% after being down over 3% on Tuesday while the HSI is up 0.30%. In China onshore markets, equities are edging higher ofter opening in the red the CSI300 is up 0.10% while the small-cap indices CSI1000 is down 0.40% & CSI2000 is down just 0.05%, the growth focused ChiNext is up 0.10%
- (MNI) China Lacking Meaningful Opening - Britcham (See link)
- Looking ahead, quiet week for China on the data front.
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