This is the last 5 days trading the Hang Seng Index. Friday afternoon 19,500 minus. Tuesday morning 22,600 plus. Overnight gaps of more than 600, 700 and 700 points (3% +/-). Including all together a 10% point rise in 1 1/2 sessions. I don't need to tell anyone reading that this is not rational. It is certainly not investing and probably isn't even trading. What it is can best be described as desperation. Whether rearranging deck chairs on the Titanic or fighting for the last few chairs when the music stops remains to be seen. I think I'll go do a little investigative reporting and come back with the pictures I promised.
8 comments:
first.
Sushi yuck MURST!
Rob, it's the change in investment rules for Hong Kong with respect to mainland China. Unclear what the long-term effect on either the Shanghai or Hong Kong markets will be--and unclear how much of the movement in recent days is fundamental and how much sheer speculation.
Hong Kong set for China boost
"Beijing's decision to allow individual mainland investors to trade directly in Hong Kong-listed shares could funnel billions into the market over the next year and sustain an ongoing bull run, according to analysts."
And I'm with Sweet Cashback. Sushi is a treasured icon of Pacific Rim culture; it is not, however, an edible food. All the beautiful sushi of the world should be shellacked and put on display in glass cases, and the sushi chefs should get to cooking some real food.
Like tempura shrimp. Mmmmmm. Tempura shrimp.
OMG the huns have invaded civilzation.
Sushi is like sex. Is sushi disgusting? Only if you are doing it right.
Seriously, PV thanks for the mainland mainline of investment infusion angle. I missed that entirely.
A cynic might think that some of the people in the Chinese market regulatory agencies had investments in Hong Kong, and thought that a quick and easy way to boost their returns would be to open Hong Kong up to all mainland Chinese investors. But this is China, the Worker's Paradise™, and I'm sure such a thing would never happen in a country where there is such fastidious attention to integrity, honesty, and transparency.
The world has handed in their verdict about Sushi.....
And the verdict is: YUCK!
I notice another buyout 'rumor' has surfaced around Countrywide. This time, its Buffett that is allegedly interest.
Now why is it that anytime CFC has down days in the market, suddenly these buyout rumors and speculation surface from, and I quote, "unamed sources". Seriously, first it was B of A. Then it was their "magical" $180 billion cash advance. And now its Buffett. Is it just me, or is anyone else reminded about that scene from Wall Street? I can almost see Mozilo calling the Wall Street Journal and saying "Blue horseshoe loves Countrywide".
:-)
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