Promise of hot money heats up Hong Kong shares

Hong Kong stocks hit a 16-month high yesterday on speculation more hot money would flow into the equity market after the United States announced further quantitative easing.

In the latest sign of escalated capital inflows, the Hong Kong Monetary Authority stepped into the currency market for the seventh time this week, selling HK$3.1 billion as the local currency hit the strong side of its trading band. The de facto central bank has injected a total of US$12.03 billion since October 20.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1105706/promise-hot-money-heats-hong-kong-shares