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Stock impact report

Goldman Says Funds Likely Selling Japan Stocks to Buy Hong Kong [BNN Bloomberg (Canada)]

Morgan Stanley (MS) 
Last morgan stanley earnings: 4/16 07:15 am Check Earnings Report
US:NYSE Investor Relations: morganstanley.com/about-us-ir
Company Research Source: BNN Bloomberg
A number of macro hedge funds have started selling Japanese shares and covering their existing short positions in Hong Kong, Goldman equity sales staff wrote in a trading note published Friday that was seen by Bloomberg. Some long-only funds may also be rotating toward Hong Kong as valuations look expensive in Japan and the US, they said. Japanese shares have retreated in recent weeks after a world-beating rally in the first quarter. The Nikkei 225 Stock Average narrowly avoided entering a technical correction after being up as much as 22% for this year when it reached its record high in March. The Hang Seng Index meanwhile is the best-performing major global equity gauge this month, climbing more than 7%. The rebound has been driven by a combination of government policy support, inflows from the mainland, and the allure to overseas investors of a local currency pegged to the strengthening greenback. A Goldman spokesperson didn't immediately respond to Bloomberg's request for c Show less Read more
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