$CSOP HS TECH(03033.HK) basically didn't move, $XL2CSOPHSTECH(07226.HK) saw a slight gain, $Direxion FTSE China Bear 3X(YANG.US) and $XI2CSOPSMSN(07347.HK) both saw slight declines, while $ISHRS MSCI S Korea Capped(EWY.US) saw a slight gain.
Both the Chinese and Korean markets closed with mild gains simultaneously, so the reverse leveraged products on both sides suffered accordingly. The fact that the Hang Seng Tech long leverage only moved by a few basis points indicates that the intraday volatility of the underlying index was actually very small.
These two Asian markets are currently being propped up by a weakening US dollar and expectations of interest rate cuts; there is nothing new in the local fundamentals. How long can this broad rally driven by external liquidity last?
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