Im guessing, but itll be a live bait hook because dont people use live baits under balloons? Gamakatsu ones are good! Are you planning on catching sharks? becasue then youd want a wire trace plus hell heavy mono afterwards apparently because sharks like to roll around in the water.

for my setup i use 2 12/0 gamakatsu 80 pound wire trace and 40 pound mono but im pretty sure theres way better setups that people use

i use similar to Parry, but 60lb mono lead on to 80lb braid ;) works wonders :D clutch gives up before the line does usualy ;) or u get spooled or snap the hooks..... lol had some good bronzies a few weeks ago on this set up with both dead fillets and live baits, i have one of each out on 2 rods :D

Type Shark rig into youtube and check out the first vid mate. Thats pretty much the same rig I use but I take the bait out with a kayak instead of ballooning it out there. Depending on what size shark your gonna try get into will depend on how heavy the trace... Circle hooks are the way, Tackle world Have Owner hooks if your looking for that brand... I use 49 Strand 500 pound wire trace and then a similar rig as in the video. Use a good ball bearing swivel at the top of your trace aswell.

depends what type of shark and how big your targetting or what type of baits you will be using. Owner hooks are the best but expensiven but gama's do the job very well for the price! i wouldnt use anything under 100 pound wire trace. there is heaps of info on the net about shark rigs just have a look mate a good site to try is texas shark fishing

 Depends on bait size small baits like tailor blue Mack's ect I use 9/0 shogun circles or mustard deep V's but for bigger baits 3kg+ either jobu big game or mutu circles in 12/0, I use 2 hooks snelled on 210lb wire for small baits or 400lb 49 strand stainless for big baits, as for leaders 10m of 150lb-200lb wind ons are what I use but I mainly slide bait instead of ballooning.