bullish
Xinyi Solar, BYD, and Bank of China
SUMMARY
- The main drivers for Hong Kong stock rallies are short covering, buybacks, and China government real estate support measures announcements.
- Hang Seng Index and most of its constituents continue to read like bear porn. Without a meaningful reversal/impulse rally, it is hard to call for a reversal.
- I hear and agree the case is so bad that it must be a buy signal. The sentiment is precious, BUT it needs a price action supporting the exhaustion thesis.
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