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Jay Poswolsky wrote:
> Jeff:
>
> I'm sure that I am reading this incorrectly, but if the last number in
your
> index and future series is the close, does this imply that the index
is
> quoted higher than the futures? Or is it just too early for me?
>
> If I am seeing this correctly, is it typical or is this a case of
> backwardization, and what does that imply?
>
> Jay
>
> ----------
> > From: Jeff Harteam <jharteam@xxxxxxxxxxxxxx>
> > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > Subject: Re: MKT - Hang Seng Data
> > Date: Friday, October 17, 1997 6:27 AM
> >
> > Greetings Al & Traders:
> >
> > Hang Seng Index:
> > 10/17 13456.10 13748.98 13270.40 13601.00 +34
> >
> > Hang Seng Futures:
> > 10/17 13430 13760 13270 13525 -145
> >
> > Have a good one
> > Jeff Harteam,
> > Hong Kong
Jay:
I assure you that you're reading the data correctly. There is no
problem
in
your vision at all. This implies the futures are trading at a discount
over
the cash market. It happens all the time in the Hang Seng Index.
Regards.
Have a good one
Jeff Harteam
Hong Kong
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