Morgan Stanley: Hong Kong Wild Cow Super Imagination

U.S. banking performance, the market vision of the bottom of the economy, to stimulate Asia-Pacific stocks to do a good job, including Hong Kong equities more "five Lian Sheng", a breakthrough in the nine, to the high level since last year's Fri, close to the financial tsunami levels, the index closed to near-day highs, reported 19,502 points, 696 or 3.7%, the largest increase in the region , the total transactions of Hong Kong stocks also increased to $78 billion.　　Morgan Stanley expects the second half of the Hong Kong stock to be more "bull" than the bank. The state-owned enterprise index rose sharply yesterday, hitting a record high of 446.7 or more 4% at 11,593 points since August 29 last year.　　Looking back on the past 5th, the Hang Seng Index (HSI) and the national finger have risen 2,247 points (13%) and 1,313 points (12.8%) respectively. is expected to break 22000 should be in high selling according to Hong Kong media reports, Morgan Stanley China strategist Lou just said, the mainland's hot money will catalyze the bubble of Hong Kong equities, which in the third and fourth quarters of the year showed an opportunity to be more "bull" than the 12-month forecast, provided that the bank's expected index of HSI and the country's 12-month target 22 were upgraded,　　047 points and 16,234 points, the valuation has been high, investors should take advantage of high profits back to vomit. However, in the case of hot money inflows from the mainland, he expected a and H-shares to be discounted to give greater stakes and to the large blue-chip investors who were less likely to have the opportunity to invest in mainland China. The flow of hot money into China continues to increase, Lou said the mainland has also seen a rapid increase in new loans, but it is believed that before the recovery of the mainland industry and retail industry, the government will not tighten up the monetary sector, and the central authorities may be able to "discharge" through formal or informal channels, so as to relax the restrictions on mainland enterprises ' overseas direct investment,　　It may expand the quota of qualified domestic investors, introduce more offshore exchange-traded funds (ETFs) of the HSI and overseas indices, and not even dismiss the "through Train" scheme, or informally relax foreign exchange controls to allow the inflow of hot money from retail investors to Hong Kong. "Money mischief" shareholders must reverse thinking according to reports, China Silver International Vice President Bai also said, now is "money" mischief, the new capital stock to attract a large number of Chinese funds into Hong Kong, but many large households in the distribution of the results before the announcement is not required to pay, some of the capital into the stock market speculation, the index is expected to jump straight to 20,000　　Even if mainland officials urged the bank to tighten credit, it would be hard to beat the capital market. Shen Qinghong, President of BMI fund management, said more than 19,800 Bear Certificate, Hong Kong has the opportunity to carry more than one layer, the next top should be 20,300 points, the state refers to try 13,500 points, but to call the retail investors to have "reverse thinking", when the big city "rise to you do not believe", at any time there is a deeper adjustment. Jinyu, Lin Weixiong, a joint director of global Asset Research, said it was worth noting that Hong Kong's 14th RSI had reached 70.