Broader market proxies on the Singapore Exchange (SGX:S68
) include the Lion-OCBC Securities China Leaders ETF, the UETF SSE 50 ETF and the Xtrackers MSCI China ETF.
The mainland Chinese stock rally is likely to broaden out from tech stocks to the broader market. Traders have probably switched from playing the Hang Seng Tech Index to broader market indices such as the Shanghai Stock Exchange 50 Index (SSE 50) or the still tech-heavy MSCI China Index.
Mainland tech stock consolidation is evidenced by the retreat of the Hang Seng Tech Index to 5,747 on March 13 from a high of 6,068 on March 6. This consolidation may persist as traders and investors switch to consumer and other mainland plays including financials.
