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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.
CHINA
- Chinese equities keep reaching new lows despite market pricing in further easing from Chinese policymakers in the medium term.
- This year, the significant deceleration in Chinese economic activity combined with the sharp contraction in liquidity have been weighing on domestic risky assets.
- Hang Seng Index is down over 25% since its February peak (peak in Chinese economic activity) and recently broke below its 23,509.70 support, which corresponds to the 76.4% Fibo retracement of the 21,139.30 – 31,183.40 range (2020/2021 low high).
- The HSI is currently testing the low of its LT downward trending channel.
- Next key level to watch to the downside stands at 22,519.70, followed by 21,139.30 (March 2020 low).
- Are investors skeptical about the limited easing room that the PBoC has given the high level of inflation?
Source: Bloomberg/MNI
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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