Profit-taking in many China stocks ... drove the market as well as H-shares into negative territory.
Profit-taking in many China stocks ... drove the market as well as H-shares into negative territory.
H-shares with high valuations saw profit taking today.
There was continued profit-taking in H-shares after strong gains by many counters recently.
Sentiment was seriously affected by news of an increase in China's lending rates. This pulled down the property sector both in Hong Kong and on the mainland and also affected H-shares and red chips across the board.
People are getting nervous about H-share prices. At this level, H-shares are quite high.
Some H-shares have risen beyond their respective fundamentals and it's no surprise to see investors take profit on them today.
Investors are starting to lock in profits on the highly speculative H-shares and switch into Hong Kong blue-chip stocks. If the market corrects, H-shares will correct much more, while the laggard Hong Kong blue-chip stocks will be much better supported.
Falls on Wall Street last night and profit-taking in H-shares, many of which had a strong run lately, are the major reasons for the market's fall today.
© 2020 Inspirational Stories
© 2020 Inspirational Stories