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QE3 footsteps in asymptotic reproduced two signs indicating Hong Kong stocks or funds By the United States four-quarter GDP figures worse than expected last year, dragged down Friday on European and American stock markets take advantage of the callback; a share yesterday, complex on the Mainland, its performance was disappointing, because the Central Bank reduced the expected decline in the short term, low huzongzhi in the year of first trading day opened. Under the influence of internal and external double bad, Hong Kong stocks ended six consecutive rise too strong, the Hang Seng index on Monday to ride the callback, but remained unchanged atAbove the 20,000-point mark for projected Outlook still ample funds under the support of the extended their run. The Hang Seng index a day at 20160.41, by 341.26, or 1.66%; the broader market trading remained relatively active state, were sold for HK $ 66.5 billion, slightly over the previous trading day volume. Domestic shares dragged down shares in leading the broader market, the State-owned enterprisesIndex and index of red chips or per cent and 2.63%, respectively. Chinese real estate and banking stocks led the main force in is one of the big city. Sources say, the Spring Festival period of seven days, Beijing residential 0; Guangzhou, Hangzhou, Nanjing, Wuhan and other places of commercial housing trading volume of the Spring Festival are the lowest in recent years. From this influence, owned real estate stocks in heavy selling pressure, China overseas, China resources land decreaseAbove 3%. And the widespread disagreement, DBS Vickers Ballas report released yesterday, is expected in 2012 real estate market in mainland China or surprise, thanks to lines of credit expansion, and the affordability of the people increased; DBS preferred shares include China resources land, China overseas, because these companies are primarily intended for the mass market, businesses are mainly located in the lower-level cityCity, policies risk so low end user demand for more robust. Chinese bank stocks after rising nearly three weeks, also slipped yesterday, ICBC, Bank both fell more than 3%, the Hang Seng China h-shares financial sector index fell 2.93%. The class a shares also fell there are two main reasons: first, supporting Central Bank reducing expected stronger banking stocks early does notCashed, as section Qian Central Bank inverse repo operation of due, short-term bank system funds surface or again faced partial tight of State; Second, recent more only bank unit of AH unit price created low, which, ABC, and ICBC, and CCB, and cross line, and China Merchants Bank reproduction shares discount of status, this background Xia, yesterday shares Bank unit of all fell inevitable will in is large degree Shang dragged down corresponding h goPotential. According to statistics, since this year, the Hang Seng index gained nearly 7%, far outperform the China a-shares and all the major stock indexes in Europe and America. The market value of future judgment, we have to look at the Fed's latest on the income statement between two monetary policy objectives in the employment and inflation, it is clearly more focused on the former, if for some time inflation remains manageable and the employment situation is difficult toThe improvement, the QE3 probability increases, this emerging market asset prices and in for riskier assets, will no doubt bring short-term stimulus. As for Hong Kong stocks, which this year relative to the other major stock indexes gain primarily from the excess QE3 vision brought about by the financial effects, there are two indicators of recent significant changes worth investor concern: first, the United StatesYuan Hong Kong dollar exchange rate on Friday, the currency has fallen to near 14-month low of 7.7541, a distance of 7.75 are very close to strong-side convertibility undertaking level. When launched in 2010 and 2009 QE1 QE2, the index hit or fall below level of 7.75, correspondingly, in the above two points, the Hang Seng index also has experienced a larger pictureIncreases. Followed by the currency, with the dollar against the RMB NDF last week to a record low, and the difference between the median price of RMB appreciation of the Yuan is expected to quickly back up to since September last year, coincidentally is that renminbi appreciation is expected to last two boost QE1 and QE2 point coincide exactly with the Fed. Through these two important indicators of change, And we expect fed QE3 expected will make significant changes in international capital flows, while Hong Kong stocks will also benefit from it.