STOCKWATCH: HK Exchanges and Clearings to test HK$11

Hong Kong Exchanges and Clearings Limited (0388) fails to enter into the HSI composite shares and slumped as expected this morning. With Hong Kong stocks turnover remaining thin, it will suffer considerable selling pressure in the short term. Not to make investment for short-term. As reflected in charts, the loss today has offset the gain of yesterday and short-term technical shape went soft again. It is expected to test HK$11 if the recent low level of HK$11.2 cannot be kept. Short-term investors are advisable to stay on the sidelines.

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