Hot futures show cash players the way

HANG Seng Index futures had a positive day yesterday, with the August contract rising 130 points, to 9,380, a premium of 43 points over the cash.

The September contract rose 136 points to 9,385.

Turnover was 25,697 contracts in activity boosted considerably by roll-overs.

In the August contract the turnover was 13,609 contracts, and in September it was 12,088.

At the open, domestic buying was strong, then overseas money flooded in, adding to the positive sentiment.

Confirmed open interest for Wednesday was 17,169 contracts in August and 21,429 in September.