Home Forex Markets Hang Seng Index (HSI) fell slightly, pay attention to the intensive support below

Hang Seng Index (HSI) fell slightly, pay attention to the intensive support below

by WOOWinvest
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Hang Seng Index (HSI) fell slightly, pay attention to the intensive support below

The overall market risk appetite was stable during the U.S. stock market closed overnight, but Hong Kong’s Hang Seng Index (HSI) fell 0.49% on Friday. Technically, the Hang Seng Index broke the upward trend line that started at the beginning of the month, or tested the intensive support area downward.

The Hang Seng Index (HSI) edged down 0.49% on Friday

Hong Kong’s Hang Seng Index (HSI) opened down 0.5% on Friday, the largest intraday drop of 1.38%, and narrowed its decline to 0.49% at the close. The Hang Seng Technology Index closed down 2.31% on Friday. The net inflow of funds into the Hong Kong stock market through Hong Kong Stock Connect on Friday was 4.363 billion yuan.

Since the beginning of this month, the Hang Seng Index has continuously broken through resistance and rebounded. How to deal with the breakthrough market and grasp the breakthrough opportunity? 👇👇👇

On Friday, 31 stocks in the Hang Seng Index rose, 41 fell and 1 was flat. The top three constituent stocks with the best performance and their gains were: Country Garden rose 9.54%; Country Garden Services rose 9.05%; China Shenhua rose 3.96%. The top three constituent stocks with the worst performance and their declines were: Chow Tai Fook fell 15.52%; Xinyi Solar fell 5.51%; Haidilao fell 4.55%. The main heavyweights performed as follows: Tencent Holdings fell 2.64%; Alibaba fell 2.16%; China Construction Bank rose 1.73%.

In terms of individual stock news, Meituan announced its results for the third quarter of 2022 after the market closed, with revenue of approximately RMB 62.619 billion, an increase of 28.2% year-on-year; it turned losses into profits year-on-year, with a net profit of 1.22 billion yuan, compared with a loss of 9.99 billion yuan in the same period last year.

Hang Seng Index (HSI) trend technical analysis

The daily chart shows that the Hang Seng Index (HSI) has broken the upward trend line that started at the beginning of the month. In the short term, it may further test the intensive support area 16800-17200. This area now brings together the broken downward trend line that started in June, 50 The daily moving average and the 20-day moving average. And if the rebound recovers the upward trend line, it is expected to point back to levels such as 18200 and 18500. (Follow the author on Twitter @Legen_DailyFX )

Hang Seng Index (HSI) fell slightly, pay attention to the intensive support below

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