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Maintains A Bullish Tone


Corrective Cycle Still In Play


BanRep Preview – October 29 1900BST/1400ET


Eyeing Near-Term Support

CHINA STOCKS: The surge in Chinese retail trading account activity has been well
documented. A story from the Global Time highlights the burden this is placing
on infrastructure in the space: "Chinese public cloud service providers
represented by bellwether Alibaba Cloud and Tencent Cloud have witnessed quick
growth in their cloud services triggered by surging demand for remote education
and working due to the COVID-19 pandemic, and their competitiveness in global
markets has ramped up. The latest scenario for expanding cloud computing
services came as a slew of Chinese trading apps are struggling with data delay
and intermittent service connection after Chinese investors raced to enter the
rallying A-share market this week. Alibaba Cloud told the Global Times on
Wednesday that it has been alerted to the need for expanded capacity from
several key Chinese brokers in order to deal with the current limited capacity.
Delays to the brokerage trading system are caused by spill-over of concurrent
orders or market refresh requests placed in a certain area of the brokerage
surpassing the design capacity of the trading system, according to engineers at
Alibaba Cloud."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |