Chinese equities continue to look more pensive this week

October 22, 2024
-FCHFX

October 22, 2024 at 05:36AM
If anything, the chart shows that the mood music is more pensive as investors are likely waiting on more action by Beijing. That especially a follow through on the fiscal side of things. The CSI 300 index is up 0.5% today but it’s not really noticeable from the charts.

It seems to be that investors are still hanging on to the leftover enthusiasm from before the Golden Week holiday. It’s a good first step in trying to convince of a turnaround in sentiment. The surge higher shows much appetite and money waiting on the sidelines to bet on a China recovery.

The fear is that Chinese officials might leave this sort of mood hanging for too long, again.

This article was written by Justin Low at www.forexlive.com.

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