Hong Kong Equities Rebound, As Investors Bank On Equity Market Support

Hong Kong equities opened lower today, that was met with buyers as most Indices now trade higher for the day, investors taking the view China will look to deliver stronger measures to help repair investor confidence.

• Equities markets in Hong Kong opened lower today, however early jitters quickly evaporated to see indices trade higher. Investors are banking on China policy makers announcing further market positive policies over the coming week, as has been the case over the past few trading session any signs of market weakness have been quickly met with swift buying and support. The Hang Seng is 0.45% higher after down as much as 0.80% earlier, HS tech is up 0.65%, while the mainland property index trades 1.88% lower after being down as much as 3.50% earlier.
• In other China & Hong Kong equity news, Michael Burry, made famous from the movie "The Big Short", has been adding to his exposure to Chinese Tech stocks recently betting on a recovering, while China's state media have reported that hotel sales at major e-commerce platforms have surged more than 60% from a year earlier and finally, Chinese property developer Redsun received a wind-up notice in Hong Kong, in what is not unexpected news as their debt has been trading at about 1c since October.