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EQUITIES: HSI Bounces Off 200-Day EMA, Put/Call Ratio Shows Index Oversold

EQUITIES
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  • The Hang Seng Index is extending its rally this week, supported by optimism from strong US bank profits and a benign CPI report. A short squeeze in Hang Seng futures, coupled with the cash index rebounding off the 200-day EMA, reflects improving investor sentiment.
  • The HS Put/Call ratio remains at extreme levels, suggesting that the index is at oversold levels.
  • Options expiring Jan 27 suggest traders see the HSI pushing higher over the coming two weeks, with the most common expiry being the 22,000 strike, suggesting a 13.12% upside.
  • Hong Kong equities are rallying despite news of potential tax hikes on top earners, a stark contrast to last year's market reaction, thanks to China’s supportive measures for markets.

Chart. Hang Seng vs 200-day EMA vs HS Put/Call Ratio

HSIvs EMAvs Putcall
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  • The Hang Seng Index is extending its rally this week, supported by optimism from strong US bank profits and a benign CPI report. A short squeeze in Hang Seng futures, coupled with the cash index rebounding off the 200-day EMA, reflects improving investor sentiment.
  • The HS Put/Call ratio remains at extreme levels, suggesting that the index is at oversold levels.
  • Options expiring Jan 27 suggest traders see the HSI pushing higher over the coming two weeks, with the most common expiry being the 22,000 strike, suggesting a 13.12% upside.
  • Hong Kong equities are rallying despite news of potential tax hikes on top earners, a stark contrast to last year's market reaction, thanks to China’s supportive measures for markets.

Chart. Hang Seng vs 200-day EMA vs HS Put/Call Ratio

HSIvs EMAvs Putcall