Hang Seng Index to Fall as IPOs Divert Cash: Technical Analysis

Hong Kong’s Hang Seng Index is set to fall back below the 21,000 level in the closing weeks of this month as investors raise cash to buy into initial share sales, according to DMG & Partners Securities Pte.The gauge climbed 1.7 percent to 21,768.51 yesterday, its highest close since Aug. 11, 2008. The Hang Seng has closed above the 21,000 mark just five times in September.

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