US stocks fell for the fifth consecutive day.儲存 As for the Hong Kong and mainland markets, there was nothing really exciting. Ahead of the long October 1 Golden Week holiday, mainland newspapers reported that the four big state-owned banks lost 202 billion yuan (HK$255.90 billion) worth of deposits in the first three weeks of September. As we near the end of the third quarter, loan approvals have turned slow in the mainland and banks there are keen to retain more money in order to satisfy various capital ratio requirements. In the interbank market, the People's Bank of China is well aware of tightening liquidity. It does not want to see a repeat of what迷你倉happened at the end of June. So, yesterday, it poured 80 billion yuan into the banking system through its reverse repo operations. Mainland stocks fell to their lowest level in almost three weeks and the HSI was seen struggling around 23000. Dr Check is afraid it will soon test the 22,600 level. I would urge everyone to be conservative and await a pullback. In New York, Facebook kept renewing its historical high after it was learned it may be accessed within the Shanghai Free Trade Zone. Hopefully, there will be some pullback. Dr Check and/or The Standard bear no responsibility for any investment decision made based on the views expressed in this column. 儲存倉
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