HK Stocks Eye Turnaround With Best Week in 12 Years: In Charts [BNN Bloomberg (Canada)]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
tencent.com/en-us/investor.html
Company Research
Source: BNN Bloomberg
The Hang Seng Index is up almost 10%, driven by strong US earnings and a string of positive local narratives including Tencent's gaming approvals, bond extensions for Chinese developers, and persistent Stocks Connect inflows given easing ETF rules. HSI is rising on higher volume as the index crosses above the 200-DMA, a very bullish sign showing underlying strength. Southbound Stocks Connect sees 20 straight days of inflows. HSTECH's outperformance against Nasdaq 100 this week is the biggest since China reopening in late 2022 MSCI China is nearly 20% higher since January bottom NOTE: Ernest Tsang is a markets producer for Bloomberg TV. The observations are his own and not intended as investment advice. For more markets analysis, see the MLIV blog. --With assistance from David Ingles. ©2024 Bloomberg L.P.
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