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Hong Kong stocks have resumed the......>

CHINA STOCKS
CHINA STOCKS: Hong Kong stocks have resumed the long holiday on a bearish
footing with both the HSI and HSCEI down over 2%. The HSI's failure to break
above 28000 is a bearish signal and suggests that a down wave is in the offing.
Bulls need to the 27000 level to hold to prevent a retest of the Sep 12 lows at
26220.
- Markets appear to be responding to rising China-US tensions in the South China
Sea together with negative comments from US trade advisors over US-China trade
progress.
- Continued declines in stocks would likely trigger a bullish break in USDCNH
which is still managing to cling below the 6.89 level for now despite a brief
look above it earlier today. 

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