Technically, the 100 days moving average, currently at 23,285, should find support. And anything unexpected happening in the French election or a bad turn in the North Korea face-off might push the index to major support at the 250-day moving average, currently at 22,503 points.
Sentiment was also bad in Shanghai. The Shanghai Composite Index fell to its lowest in two months, with investors worried about stricter regulations against speculation and shadow banking.
Let's remember that shadow banking products were major factors in the credit expansion that supported China's economic growth.
And while on the subject of banking products, shares of China Minsheng Banking (1988) fell 1.5 percent after a manager of a branch in Beijing was said to have sold contrived principal- guaranteed fund products to at least 150 high-net-worth private bank customers, with about 3 billion yuan (HK$3.38 billion) involved in the fraud.
On the brighter side, we saw Tencent (700) gain 0.9 percent to reach HK$230.20. Its all-time high is HK$233.80.
And there was a new high for Apple- linked AAC Tech (2018). It went to HK$100.90 on expectations of good things with an iPhone 8 launch in the near future. Investors are counting on refined technology and improved design to give shares a new lift.
We also saw Chief Executive Leung Chun-ying visiting Nansha yesterday. That tied in with the Guangdong-Hong Kong-Macau Big Bay New Area development concept - a long term and important project.
When the stock market has undergone a further correction there should be chance to pick up related shares BBMG (2009) and Shenzhen Investment (604). Be patient.
Dr Check and/or The Standard bear no responsibility for any decision made based on this column.