DBS: China/HK Equity Market Dashboard (16 Feb 2024)

For the week ended Feb 15,

• HSI rose 0.4% in the week ended Feb 15,as sentiment stabilize on initial Chinese New Year holiday data and stronger-than-expected China credit data in Jan; short selling turnover retreated to 16.6% of market’s total vs 20% before holiday
• China/HK stocks recorded a small outflow of USD12 mn by foreign-domiciled mutual funds, slowed from USD804 mn outflow a week earlier
• Transportation and HK banks received the biggest earnings uplift, while China real estate saw the deepest earnings cut
• Watch CNY holiday data, PBOC’s decision on MLF (Medium-term Lending Facility) Rate next week