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Market review: June 23, 2016

Fang submitted 2016-06-23 16:13:35

Market review:

China stocks fell before the UK voting on its EU membership.

Research Notes:

SHA fell about 0.47% with money out flowed from Petrochemical, Mining and Electronics sectors. Sanchuan Tech Co.(300066.sz), a water meter producer, rallied to limit-up for its expansion of IOT business.


CNYUSD stabilized around 6.58 with DXY weakened further for risk-on move in forex market. Commodities rebounded with PVC and Coal leading the bulls for more investors tried to price in the shut-down of many factories and mines for G20 meeting and some funds are playing the buy industrial sell agri strategy. Though we guessed that UK would stay in EU, it’s unwise to bet heavily on the result so our strategy is still to stay put until the voting result released. Food& Beverage and Sport sectors could be put on the watch list if market dip on some risky scenario.

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