June 14th: Super low volume, HSI barely moved, world cup effect on stocks
Today’s HSI closed at 20051, up 179 pts.
However, volume today was at super low level, at HKD 37.9 billion dollars. Trading range was only 80 points. It would make dealers falling asleep very quickly during the day. And with world cup matches happening during mid nights, how many dealers are actually awake during trading hours?
Maybe a lot of traders are on strike these days… for european traders, the world cup matches are probably more important to them than stocks. world cup only happens every four years, but you can trade stocks every day! for asian traders, they are very likely sleepy coming to office every morning. and soccer is actually getting more popular in nyc with the 1-1 draw between USA and England. And thank God the matches happen during east coast office hours!
People are too busy watching the world cup and don’t have time to initiate any attack against the Euro, the high unemployment rate, or the inefficient ECB.
