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After highlighting Hong Kong's impressive six-week rally yesterday, the Hang Seng followed up today with its largest negative reversal in over nine years. After rising more than 2% intraday, the index sold off in the second half of trading by nearly five percent and finished the day down 2.55%.

This is the third largest negative intraday reversal in the index since 1990 (negative close after being up more than one percent intraday). Below we highlight the two prior occurrences and how the index performed over the short term.

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Source: Hong Kong Posts Largest Intraday Reversal In Nine Years