It was a roller coaster ride in Hong Kong market today. It wasn't the real announcement of Shenzen-Hong Kong connect; it was the spread of news according to an article written by PBOC goverver sited in May that SZ-HK connect will be launced latest by this year.
No short covering happened in the afternoon session. In fact, it was a turnaround trend- long liquidation!
HSI opened at 23200 and market dropped 319 points within minutes. Support at 22800, the lowest HSI went in second session was 22881 and finally November futures closed at 23115 (+535). Cash market closed at 23053.57 (+2.15%).
For stocks, Hong Kong Stock Exchange (HK:388) closed lower at $209, +4.7%. The Emperor Capital Group (HK:717) closed at $0.70, +9%.
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