Goldman Sachs Keeps Winsway Coking Coal at Buy, Target HK$5.65

The Hong Kong HSI refuses to withdraw despite it has been in the overbought zone for weeks. After falling slightly by 0.3% on Monday, the index managed to stay above its 10-DMA these two days, reversed morning losses and ended the day higher. Brokers and analysts were encouraged by such outperformance and many of them said the index would test Monday's high of 21,760 again. The index, after today's advance, is extending its 7-week winning streak to the 8th week. The ratio of the HSI callable bull contracts to HSI callable bear contracts on Tuesday was 58:42 versus last Friday's 53:47. The biggest quantity of HSI callable bull/bear contracts are the bull contracts callable at 20,900.

(Hong Kong and Shanghai time 4.45 pm Wednesday, February 22, Report by CSV)