HK & China - Market Direction 01 (May08 - Oct08)

[winston]

Too dangerous to buy a put although very tempting now... Rumor of Social Security Fund buying. See SSE..

Too dangerous to buy a call because of triple witching and tomorrow is Friday...

Caught between a rock and hard place

[learn2win]

MM,

Computers gone bonkers???

W,

no buy no win also no lose la.. save it for another day.

[winston]

They are squeezing the shorts now. HSI up 200 now. It was down 1300 this morning.

1500 points in 1.5 hours. Where's the money coming from ?

If there is so much money on the side, why are people behaving as if the end of the world is here ?

[Cherry]

Intra-day or 6 trading days or more... no need $$$$$$$$ one.

[LenaHuat]

The shortists got dramatically squeezed 2day. Pretty heart-stopping even for a bystander like me.

[-dol-]

Next time, we know better than to rub salt on injury and short a crashing market

Never, ever kick a wounded lion or dragon...

[winston]

China scrapping stamp tax on share purchases

China is scrapping stamp tax on purchases of equities, state television reported.
The cut takes effect tomorrow.

It said the 0.1 percent tax would still apply to sales of shares.

Separately, the official Xinhua news agency said Central Huijin, a government-controlled investment agency, will buy shares in three big state-owned banks whose share prices have been pommelled lately.

The three are Industrial and Commercial Bank of China (1389), Bank of China (3988) and China Construction Bank (0939).

Huijin, an arm of China Investment Corp, the country's sovereign wealth fund, will start buying immediately in order to stabilize the banks' share prices, Xinhua said.

REUTERS

[winston]

HK finsec says no plan now to prop up stock market

HONG KONG, Sept 18 (Reuters) - Hong Kong's Financial Secretary said on Thursday the government had no plans at the moment to prop up the territory's stock market, despite turmoil resulting from a global financial crisis.

The city's benchmark Hang Seng Index .HSI has slid 15 percent over seven straight days of losses, taking year-to-date declines to almost 37 percent. [ID:nHKG81360]

"The Hong Kong government has not entered the market today," Financial Secretary John Tsang told reporters, adding that the government had no plans to do so.

The Hong Kong stock market has taken a hammering as investors took flight in the wake of a global financial crisis stemming from the collapse of U.S. investment bank Lehman Brothers (LEH.P: Quote, Profile, Research, Stock Buzz) and the U.S. government's rescue of insurer AIG (AIG.N: Quote, Profile, Research, Stock Buzz).

Hong Kong's central bank on Thursday injected HK$1.556 billion ($199.5 million) into the territory's interbank market to ensure sufficient liquidity as credit tightened in the wake of the global financial crisis. The Hong Kong Monetary Authority said the money and currency markets were operating smoothly but that it was ready to inject more funds if necessary.

[winston]

Dow: Up 410
SSE: Up 9%
HK Pre-Market: Up 1245 !!

1) The trend is your friend.

2) Too dangerous to buy a put but since it has risen so much ....

3) Too dangerous to buy a call now since it has gone up so much ...

4) I'm picking up news that the SEC has temporarily ban short-selling. The HK regulators may do the same thing.

[winston]

Just imagine that you are short China Shipping Development in HK. This stock is up 30.5% !