Hong Kong futures snap back, SHCOMP soars on reserve cut

April 19, 2015 11:33 PM (UTC+8)

 

Hong Kong China Enterprise Futures recouped virtually all their Friday losses in the first minutes of trading Monday morning local time and the Shanghai Composite Index soared another 1.5% on top of Friday’s more than 2% rally, after China’s central bank cut bank reserve requirements, releasing up to 1.4 trillion yuan of lending capacity.

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Hong Kong China Enterprise Futures fell 4% Thursday night after China restricted margin leverage, taking popular China ETF’s like FXI down with them. Asia Unhedged called it a buying opportunity. That’s our story, and we’re sticking to it.

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