The 19th National Congress of the Communist Party of China opened on 18 Oct, investors concerned on the direction of economic policies in the next five years. On Oct 19, the Governor of PBOC Zhou Xiaochuan warned the increasing corporate loans could lead to the "Minsky moment", which triggers market crush by force sell-off.
The market worry on China’s future economic growth, together with the news on Spain's deprivation of Catalan's autonomy, Hong Kong market slumped 2% on Thursday.
Large-cap strongly recovered on Friday, the cross border China large-cap benchmark CES China 120 Index (CES 120) increased 0.9% during the week. In contrast, Mid-small Cap still underperformed. Cross border China mid-cap benchmark CES China 280 Index (CES 280) edged down 0.6%.
