MOMO BUYS STOCKS OBLIVIOUS TO THE WORST ROUT IN HONG KONG SINCE 2008 AND FOREX BONFIRE IN TOKYO
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Money Flees China
Please click here for a chart of Hong Kong Large Cap ETF FXI.
Note the following:
- The world is interconnected, but don’t tell that to the momo crowd.
- Significant developments are happening overseas that will impact the U.S. stock market sooner or later. Prudent investors need to keep a close eye on these developments.
- The chart shows a significant gap down in Hong Kong stocks.
- Hong Kong stocks fell 6% to a 13 year low. This was the worst drop since the 2008 financial crisis.
October 24, 2022