Monday, 22 June 2009 (After Market Post)

Summary
Hang Seng Index 18,059.55 (Change: +138.15/0.77%)
Range: 17,906.39 - 18,398.92
Turnover ~HKD62.685B.

Hang Seng Index
I got ahead of myself earlier this afternoon. I take back everything I said. HSI lacked the momentum to keep it's position, eventually closing slightly above 18,000. Below 10-day and 20-day moving average, and starting the week with low turnover again. Tomorrow, HSI should close back in the red, below 18,000.
Could it possibly be because of capital flowing into the IPOs? Possibly, I'm not going to rule that out. But considering how low the capitalization is by aggregate, I don't think it would really impact the market that much.

China Construction Bank (0939.HK)
Lagged a bit again today, only up HK$0.05 (+0.87%), with average Chinese banking stocks jumping ~2% (Bank of China, 3988.HK), to ~4.85% (Bank of Communications, 3328.HK). Reports that personal loans in China may have risen as much as RMB6.5 trillion, a positive sign for credit and lending.

One stock that I also recommend looking into more closely is GOME Appliances (0493.HK), a stock that has been suspending for the past seven months as a result of investigations into its CEO's corruption and market manipulation charges. Things seem to be clearing up and possibly released for trading again soon. And guess what, it's missed the rally we've all been watching, and as investors continue to seek out underpriced securities, this one looks to catch up. Will give this one some more thought.