The suspension of so many mainland A shares is a positive development for the Hong Kong market, which once again proves it worth as a source of liquidity to be maintained in all conditions - albeit at a price. Investors buying China exposure through Hong Kong get the added incentive of an average 30 per cent discount to A-share equivalents and access to the best mainland companies in the technology and consumer sectors, which are generally listed on the Hong Kong stock exchange. The first signs are emerging that the market is bottoming, in classic style, with a V-shaped reversal of recent falls. The precise track from here is unpredictable, but the first objective for the Hang Seng Mainland 100 Index would appear to be to regain the 200-day moving average level at around 7,700 points.