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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
- Since the start of the year, the deceleration in Chinese economic activity combined with the contraction in liquidity (TSF 12M sum) has been weighing on domestic risky assets.
- China equities (Hang Send Index) have been constantly reaching lower highs this year and is down nearly 20% since their February peak (which also corresponds to the peak of the Chinese economic activity).
- In addition, the government crackdown on a range of industries (property, tech, gambling, education…) have left some equity sectors vulnerable in the past few months.
- For instance, Chinese tech stocks (CQQQ) are down 35% since February.
- The HSI index tested its 50DMA (25,195) support overnight; next level to watch on the downside stands at 24,970, which corresponds to the 61.8% Fibo retracement of the 21,139 – 31,168 range.
- Key support to watch on HIS index stands at 22,800, the low of its LT downward trending channel.
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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