(Bloomberg) Investors who love emerging markets but are spooked by China’s regulatory crackdown are pouring more money than ever into an ETF seemingly tailor-made for this moment.
The $1.
China Shorts Crushed As Retail Investors, Plunge Protection Team Triumph zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
T
he Hang Seng Index (HSI) is down another 4%+ today as China continues to clampdown on technology companies, with the regulators taking aim at the food sector today. The HSI is now down nearly 20% after printing an all-time high in February this year. The indices’ constituents are a sea of red with double-digit losses seen in Alibaba Health Info tech (-18.5%), China Feihe (-16.2%), Meituan Dianping (-17.6%) among others. The Hang Seng Tech index has been hit even harder and the recent sell-off has seen the indices lose over 40% this year,
The daily HSI chart shows the recent damage caused by the government crackdown with the index now trading below all three simple moving averages, while the 50-day sma has fallen through the 200-day sma, forming a bearish ‘death cross’. The CCI indicator is flashing an extreme oversold warning, while volatility, measured by the 14-day ATR, is climbing sharply. The multi-month higher low made at the end of last year has been broken with ease
Futures Slide As Asian Stocks Plunge To 2021 Lows zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.