$BABA-W (09988.HK)$ Hong Kong stocks continued to bounce bac...
$BABA-W (09988.HK)$ Hong Kong stocks continued to bounce back, despite the easing news that many expected over the weekend, but there was another more important factor supporting Hong Kong stocks: the appreciation of the RMB.
Sharing on other platforms, the RMB's move is highly correlated with Hong Kong stocks, and the RMB's fall to a near-year low last month was one of the factors behind Hong Kong stocks. The RMB rebounded over the weekend, which is believed to support the rebound in Hong Kong stocks.
There are two reasons for the RMB's rebound, with US interest rate hikes expected to weaken slightly and strong Chinese export data.
In addition, the weekend saw the discovery of a CTA ETF, a neutral strategy (buy and sell at the same time), buying and selling stocks, bonds, foreign exchange rates with smart money, with low volatility, up 30% this year. The Hang Seng crossed 15867 and is expected to bounce back for another day. $TRIP.COM-S (09961.HK)$ $MEITUAN-W (03690.HK)$
Sharing on other platforms, the RMB's move is highly correlated with Hong Kong stocks, and the RMB's fall to a near-year low last month was one of the factors behind Hong Kong stocks. The RMB rebounded over the weekend, which is believed to support the rebound in Hong Kong stocks.
There are two reasons for the RMB's rebound, with US interest rate hikes expected to weaken slightly and strong Chinese export data.
In addition, the weekend saw the discovery of a CTA ETF, a neutral strategy (buy and sell at the same time), buying and selling stocks, bonds, foreign exchange rates with smart money, with low volatility, up 30% this year. The Hang Seng crossed 15867 and is expected to bounce back for another day. $TRIP.COM-S (09961.HK)$ $MEITUAN-W (03690.HK)$
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