To provide a reference, selecting Hang Seng China Enterprises Index futures in Hong Kong market, the paper studies the impact of the introduction of the stock index futures on the stock market.

为了提供一个借鉴，本文选取中国香港市场的恒生中国企业指数现货与期货为对象，研究股指期货的推出对现货市场的影响。

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Hong Kong's Hang Seng fell almost five percent.

VOA: standard.2009.11.27

The Hong Kong Hang Seng Index had a rough week, down 7.9%, and as the chart shows, the long term 50% Fibonacci support was broken.

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In Asia, Japan's Nikkei 225 fell 159.15 points, or 1.4%, to 11, 309.13, while in Hong Kong the Hang Seng index closed down 400.74 points, or 1.7%, at 22, 906.67.

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But in 1997, everybody gave up on Asia, and from August 1998 when the Hang Seng in Hong Kong was at 7, 300, it rallied by March 2000 to 17, 400.

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