Capital to abandon Hong Kong's three or four-line mobile ICBC big suction Gold

"The outflow of capital that Hong Kong investors are most worried about is not happening."　　Liu Chaoxiang, manager of Hong Kong Securities Investment Department, said in an interview. According to the HKMA, the Council intervened 9 times in May, with the largest amount of money spent in the last 10 billion Hong Kong dollars, intervening mainly at the end of the foreign exchange trading period in Frankfurt and the beginning of the New York trading session.　　Although the HKMA has not disclosed the full cost of the intervention, the amount of intervention funds is close to HK $50 billion, as revealed by the emerging data. And in the 4 trading days of early June, Hong Kong's index of the trend of 3 times with the U.S. stocks and a a-share trend deviation, the most typical performance is June 2, the U.S. stocks in the first day of the transaction fell sharply, a a-share also collapse, and the index has risen sharply, on behalf of H-weighted shares of the Hang Seng State-owned　　That point has already surpassed the previous Goldman-given target of 10,300 points. Ong, executive director of the Retail derivative division of the Hong Kong branch of the French bar, told reporters that within the last 5 trading days there had been a significant inflow of H shares to the weights. Zheng, a co-director of Wanguo Securities (Hong Kong), believes that international capital inflows to Hong Kong are likely to come from Europe and that money can only flow to equities before entering the bond market.　　The Hong Kong professional investors believe that, in the case of a a-share stock market has not yet fully started, the H-shares have gradually risen to high, it means that international capital is being reset to China pricing. Capital to the overall flow of the weight of Chinese stocks "and the late May capital flow to three or four lines or even five line stocks, this time the funds are clearly directed at the weight of the Chinese stocks.　　Ong told reporters that he had just made a study, in the last 5 trading days, the warrants of the weighted shares of Chinese capital, especially the subscription card, almost all have pure net capital inflow. For example, the Chinese longevity (02628.HK) warrants have a net inflow of HK $130 million within 5th. China Mobile (00941.HK) warrants a net inflow of HK $100 million within 5th. ICBC (01398.HK) and Construction Bank (00939.HK) warrants also had a net inflow of 50 million and HK $20 million respectively within 5th.　　Other weights, such as PetroChina and Sinopec, have a net inflow of funds of varying degrees. "These funds, compared with the past, have no choice on the specific sectors of the stocks, whether it is the energy sector, the financial sector, or the telecommunications sector, almost all of which can absorb enough money." Only in the company background of a stock, the fund favors the weighting shares of the Chinese capital.　　Ong said that in Hong Kong's local blue-chip, only HSBC Holdings (00005.HK) have a large inflow of funds recently.　　European funds pouring into Hong Kong? In fact, one of the most obvious features of capital promotion is that almost all the A+h series are shrinking, and even the shares of Chinese longevity and ping An are upside down, that is, H shares are more expensive than a shares. Ong says the difference between H-shares and a-shares is now shrinking from 40% a few months ago to 20% now. Many h shares are compared with two months agohas risen more than 1 time times. Zheng, a co-director of Wanguo Securities (Hong Kong), predicts that there should be a large amount of European capital pouring into Hong Kong. He was concerned about a very peculiar phenomenon, and the HKMA did not intervene in the market before May. After the European Central Bank announced that it would also implement a "print money" policy, the Hong Kong market immediately saw a lot of capital inflows.　　And these funds also have the common characteristics of European traditional funds, favored bond-type assets. Zheng said that after the Standard Chartered Bank issued more than 1 billion U.S. dollars in 5-year period, 5.5% of the bonds, even in the public offering 45 minutes after the record oversubscribed 3 times times. The UAE's emirate of Abu Dhabi, an investment company issued a total of 3 billion U.S. dollars of bonds, an afternoon oversubscribed 5 times times.　　More importantly, these funds are largely subscribed through internationally renowned private banks, which are known to be globally renowned for their private banks. However, Lo Jiacong, chief analyst of the Bank of Communications (Hong Kong), said that there was no shortage of mainland funds flowing into Hong Kong. and a domestic fund company also told reporters that they are using the status of overseas investment, to study the appropriate time to buy a new H shares.　　Ong that the source of funding is difficult to infer, however, the recent overseas investment banks almost unanimously optimistic about the recovery of China's economy, many difficult to enter the mainland market overseas funds can only buy in Hong Kong related Chinese stocks.　　Fund into the recent major and prior to buy Chinese shares of the main force is the Overseas investment Bank is different, according to the reporter observation, the recent fund's more frequent shots, the fund in the major Chinese shares in the proportion of the majority of the shareholding to increase. For example, June 1, the Franklin Templeton Fund increased the number of Anhui Expressway (00995.HK) 664,000 shares, the shareholding ratio from 4.96% to 5.09%. The next day, the Templeton Fund also increased its holdings of Brilliance China (01114.HK) 12.402 million shares, from 12.77% to 13.02%, and on June 1, Herbie Asset Management (Halbis capital Management) will also Jiangxi Copper (00358.HK) 's shareholding rose from 4.82% to 5.12%, adding about 4.1 million shares.