Hong Kong tech coming to life today without any significant catalyst. This I like seeing. We’ve reached oversold or near oversold levels in many of these names since the October peak. US dollar weakness right around the corner. $KraneShares CSI China Internet ETF(KWEB)$ $KraneShares Hang Seng TECH Index ETF(KTEC)$ $Alibaba(BABA)$ $BABA-W(09988)$ $Tencent Holding Ltd.(TCEHY)$ $TENCENT(00700)$ $JD.com(JD)$ $JD-SW(09618)$
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Hong Kong markets closed WAY UP ⏫ today as investors pile into consumer related tech plays ahead of $MEITUAN-W(03690)$ $MEITUAN(MPNGY)$ ’s earnings results. I’ve been saying we were at oversold levels in this corner of the market, and that a rally is due. Today is confirmation that. Weaker US dollar is helping sentiment.
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US-China Dialogue: Is a Spring Coming for China Stocks?
On the 16th, Trump stated that the US and China working together could solve all the world's problems. He made this remark during a press conference at Mar-a-Lago in Florida. "China and the US can solve all the world's problems together. Think about it, it's important," Trump said.
Following the news, both Hong Kong and Chinese stocks saw slight gains. Do you believe in a bullish New Year rally for Chinese stocks?
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