China is still dominating conversation from both long onlys and hedge funds. Consensus seems to feel that this rally could have legs (thus, investors are looking to add at the moment, rather than sell), though there is still plenty of skepticism on whether outperformance will last.
中国仍然是long only基金和对冲基金讨论的焦点。
大家普遍认为，这波上涨可能还会持续（因此，投资者目前考虑的是买入而非卖出），但对超额表现能否持续仍有不少怀疑。
Though Friday was lower than peak volumes, the ADR trading desk reported that flow was still very strong, with long only participation moving up throughout the week, and tourist investors returning. Tech/Internet dominated flow, though volumes moved up across all China-related verticals.
虽然周五的交易量低于峰值，但ADR交易台报告称，交易流量依然强劲，
长线投资者参与度在一周内不断提高，短期投机者也开始回归。
尽管所有与中国相关的行业成交量均有所上升，
但科技/互联网仍占据主导地位。
The derivatives desk flagged that the China upside trade is back on after a long reprieve. Friday’s action was quieter, though sentiment is still positive, and flows broadened past ETFs throughout the week.
衍生品交易台指出，经过长时间的休整后，中国市场的看涨交易再次活跃起来。周五市场较为平静，但市场情绪依然积极，且
资金流在一周内已经扩大到交易所交易基金（ETF）之外。
Meanwhile, the capital markets financing team reported that investors are most positive on cyclicals and low momentum plays; client activity has cooled off as outperformance spreads dropped, though there is hope that this will recover next week.
与此同时，资本市场融资团队报告称，
投资者对周期性股票和低动量股票最为乐观；
随着超额收益的下降，客户活动有所降温，尽管如此，还是有望在下周恢复。
