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Hang Seng Up Over 3.0% At The Break, Prev. Flagged Flows Build

HONG KONG STOCKS

Revisiting the previously flagged Shanghai-Hong Kong Stock Connect flows, morning trade saw southbound net inflows hit 82% of yesterday's record daily level. This would have been a driving force behind the latest leg higher in the Hang Seng index, which hit the break around the 29,750 mark, ~100 points off of highs, but still some ~3.1% better off vs. yesterday's close.

  • With previously flagged technical resistance now out of the way bulls will look to reclaim the 30,000 level. Consolidation above that particular psychological barrier would then allow them to switch focus to the '19 high, located at 30,280.12.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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