Hong Kong Hang Seng

Jasmine, an unwelcome flower in politics

Hang Seng dropped 770 points or 4.38% to 16,822, a new low for 2011. Major wave C continues its journey to the South. If 8,600 is the target, that is another 50% to go.

As shown in the chart below, Hang Seng is somewhere at the half-way mark of its wave 3.


All eyes are looking at Greece's debt crisis and its plan to cut 30,000 civil servants as well as the 'Jasmine Revolution' in Wall Street since September 24 demanding for economic and judicial reforms. Unemplyment and high food prices will push people to the street. Commodity prices that are being manipulated to a high level must come down.

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