China stock markets' trading volume hit a record high
China stock markets' trading volume hit a record high of RMB 2.59 TRILLION today. That's equivalent to $370 billion. To put it into context, the US trading volume on 9/27 was $285 billion. Talk about a hot market. $KraneShares Bosera MSCI China A 50 Connect Index ETF(KBA)$ $iShares MSCI China ETF(MCHI)$ $iShares China Large-Cap ETF(FXI)$
Profit taking (and new short selling?) in CN ADRs happening now. Taking cue from tomorrow’s double holiday in HK & China markets.
Stocks significantly off day’s highs and trading well below HK close. BUT don’t rule out more policy announcements from Beijing tomorrow.
Taking some profits off the table I totally get. But going short? Either they’re very brave or are gluttons for punishment. 😅
$KraneShares CSI China Internet ETF(KWEB)$ $Alibaba(BABA)$ $BABA-W(09988)$ $Baidu(BIDU)$ $BIDU-SW(09888)$ $JD.com(JD)$ $JD-SW(09618)$ $NIO Inc.(NIO)$ $NIO-SW(09866)$
We went from "Nothing's going to happen" to "Anything can happen" in less than a month.
I'm talking about the sentiment towards Beijing's determination to help its economy and stock market.
From "What bad news is going to hit the Chinese markets today" to "What surprise move is the PBoC going to announce next."
I'm talking about the confidence investors are showing towards Beijing's ability to get the job done.
Improving sentiment and strong confidence. You don't short a market that has both.
https://twitter.com/BrianTycangco/status/1840785144854270255
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- AuntieAaA·10-02GOODLikeReport