Monday, April 30, 2007

HSI intraday watch

HSI crash quite a bit today, with me still holding onto its warrants...sianz..

China raised the reserve ratio for banks to drain liquidity because of the excellent Q1 growth of 11% (i think so). They didn't increase interest rates, so it would be taken as a soft measure to curb growth.

Accordingly, Shanghai bourse is up 1.18% (+44 pts). I wonder why HK is not following. Hit and go below support of 20200, then rebounded now. Hopefully can clear resistance at 20350 before we can see it breaking the downtrend. Long term trend is still intact. It's just a matter of when it'll reach 21,000. Hopefully by next week? haha, wishful thinking