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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
HKD
HKD bid in Asia, hitting the highest levels in a week against the greenback. USD/HKD last at 7.7525. HKD is benefitting from the dual influences of a weaker US dollar on broad risk positive sentiment, and equity flows.
- With the Hang Seng Index up ~11% since its December trough (as of Monday's close) we flag that net Shanghai-Hong Kong Stock Connect southbound flows have printed in positive territory (money flowing into Hong Kong stocks from China) for 19 consecutive sessions, with 2 of those days accounting for the 2 largest rounds of net southbound flows into Hong Kong stocks on record (going back to late 2016).
Net Shanghai-Hong Kong Stock Connect Southbound Flows (HK$bn)
- There are some headwinds for the currency. Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor spoke yesterday at the 14th Asian Financial Forum and said if the Covid-19 vaccines are as successful as expected, there will be real momentum for an economic recovery in the second half of the year. GDP is expected to shrink by 6.1% in 2020 (data on Jan 29), the steepest decline on record.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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