Period of 1 minutes down 440 points index see 7 week low

Hong Kong stocks in the Cowhide zone up and down the favoured more than one months later, short yesterday occasion! The market continued to worry about the future of the economic recovery in the foreseeable future, Hong Kong stocks immediately after the opening up with the periphery significantly down; to 10:05, the period refers to more than 440 points in a minute, close to 17,000 point edge, pushing down the spot fell nearly 300 points;　　The last big city closed at 17,254 points, down 453 points, is a 7-week low, and has slipped through a number of technical skills. In the Hong Kong media, some traders estimated that the sudden sharp fall in yesterday's period, it is likely that the decline triggered some of the procedures sold to sell, bears are also inclined to take advantage of the periphery of the weak, closed the case under deliberate raids, because the market to undertake a small, people timid to push down the big city easier.　　However, the turnover of Hong Kong equities yesterday was only $52 billion, reflecting that investors were not in a hurry to sell their goods. Last week's 365 million dollar outflow from Asia has remained stable yesterday, with no capital withdrawals.　　But Citi's capital Flow report, released yesterday, said it continued to shed 365 million of billions of dollars last week, an estimate of a higher chance of a continued outflow of funds in the short term. The next support bit 16,300 points since the end of May, has been in the range of 17400 to 19,000 points repeatedly wandering, cowhide more than one months, yesterday finally fell through the "neck line", that is, 17,400 point level, but also below the March since the group of rising waves, From the high 19,161 point of the gold ratio calculated 0.236 level, the next support for 0.382, that is 16,300 points. HSI 14th Relative Strength index yesterday to 39, is the lowest since the beginning of March, all kinds of technical indicators show that the trend of Hong Kong equities has weakened markedly, the market also to see the majority of the light. The index has fallen to 10% since the June high, and the state-owned enterprises yesterday closed 10,279 points, down 295 or 2.8%.　　Hang Seng index that is, although the month is a sudden diarrhea, soon back to normal, to maintain a slight low water level, the end of the city turned higher water 21 points, reported 17,276 points, sold 73,000. Oil prices continued to weaken, dragged down the oil stocks, PetroChina (0857) and CNOOC (0883) respectively fell 3.5% and 2.7%, the bank shares are weak, CCB (0939), ICBC (1398) have a setback 3%.　　In addition, the earlier surge in the insurance stock also appeared to vomit, and the Chinese longevity (2628) fell through 30 yuan, while Unicom (0762) was in a slump of 6%, becoming the weakest blue-chip in yesterday's performance. Mo Tong: Long-term valuation of Asia shares is still cheap J.P. Morgan, chief investment strategist for Asia-Pacific private banking, said Liang as the current market is generally expected to adjust, there is a lot of money left to stay out of the court, but at any time waiting for the low and then the market: "When we all think that we will adjust the 10% to 15%, but so much money is waiting to buy goods, In the end, we will not fall too low, perhaps only a slight fall of 3% to 5%, has already completed the adjustment. Liang also pointed out that the current stock market in the Asia-Pacific regionValue is still cheap, many institutional investors in fact, in the second quarter of the market is not too much participation, so the level of their positions still have room to rise.