Home Forex Markets Hang Seng Index (HSI) hits another recent low as risk appetite continues to deteriorate

Hang Seng Index (HSI) hits another recent low as risk appetite continues to deteriorate

by WOOWinvest
0 comment
Hang Seng Index (HSI) hits another recent low as risk appetite continues to deteriorate

U.S. stocks continued their downward trend overnight. Today, China’s A-shares fell. Hong Kong’s Hang Seng Index (HSI) refreshed its recent lows in the context of deteriorating global risk appetite, and it faces the risk of extending the decline to 18,500 and the March low.

U.S. retail sales and initial jobless claims data on Thursday were better than expected, but not enough to stop a deterioration in risk appetite due to the prospect of aggressive interest rate hikes by the Federal Reserve. In addition, economic downturn concerns also weighed on market sentiment, with the latest forecast for US third-quarter GDP growth from the Atlanta Fed’s GDPNow model lowered to 0.5% from 1.3%.

Overnight, U.S. stocks ended Wednesday’s short-term rebound correction and resumed downward. The S&P 500 closed down 1.13%, the Dow Jones fell 0.56%, the Nasdaq fell 1.43%, and the panic index rose slightly by 0.34%. Worryingly, U.S. stock index futures have fallen significantly so far on Friday, with S&P 500 futures now down 0.73%, indicating that the U.S. stock market may continue to decline on Friday.

China’s A shares suffered their biggest drop since May 24 this year on Friday, with the Shanghai Composite Index closing down 2.3 percent. That was despite some stronger-than-expected economic data on Friday: Retail sales rose at an annual rate of 5.4% in August, beating expectations for a 3.5% annual rate; industrial output rose at an annual rate of 4.2% in August, beating expectations for a 3.8% annual rate.

Under the condition that US stocks and A shares weakened at the same time, the Hong Kong Hang Seng Index (HSI) was 0.79% on Friday, and then it has been weak and fluctuated. It once closed the decline to 0.17% in the intraday, but it still failed to turn up, and it closed down 0.89. %. The Hang Seng Technology Index closed down 2.65% on Friday.

On Friday, 28 stocks in the Hang Seng Index rose, 41 fell and 4 were unchanged. The top three best performers were: Sands China Ltd, up 3.81%; Budweiser Asia Pacific, up 3.21%; and Wharf Properties, up 2.45%. The top three worst-performing stocks were: Country Garden, down 7.63%; Ali Health, down 5.62%; and China Shenhua, down 4.47%. The major heavyweights performed as follows: Tencent Holdings fell 2.27%; Alibaba fell 1.48%; China Construction Bank fell 0.21%.

The Hang Seng Index (HSI) resumed its downward trend in the third quarter, will it fall back to the low of the beginning of the year? 👇👇👇

Hang Seng Index (HSI) Trend Technical Analysis

The daily chart shows that the Hang Seng Index (HSI) fell below the short-term support of 18800 and continued to fall, with subsequent or extended declines pointing to the descending support line of 18500 and the March low of 18235. If it rebounds, the upper 18800-19000 area will act as a resistance, limiting the rebound upside. (Follow the author on Twitter @Legen_DailyFX )

Hang Seng Index (HSI) hits another recent low as risk appetite continues to deteriorate

On average, traders lose more and win less, so how does one become a successful trader? The following guide may be able to inspire you 👇👇👇

The content on this page is for general market commentary only and may not constitute investment advice of any kind (tax, legal, accounting). This article does not constitute an invitation or recommendation for direct investment in specific financial products. The content is for reference only. Readers should not rely on the information in this document, nor should its actions and omissions be relied upon. We are not responsible for the results of any person’s actions or omissions based on this article. We make no warranties as to the accuracy of the content provided or the adequacy of the information. This article is not intended for distribution within the territory of the People’s Republic of China (excluding Hong Kong, Macau and Taiwan for this purpose), except as permitted by the applicable laws of the People’s Republic of China.

Copyright Notice: Except for the purpose of viewing the information on this website, or as permitted by applicable law or these Terms and Conditions, no one may copy, use, upload, link, or publicly perform in any way to third parties without our specific written permission , publish or transmit any information or content on this website. We reserve the right to further investigate the legal responsibilities of the relevant actors for the infringing acts of unauthorized reprinting. If you have business cooperation needs such as market promotion and resource exchange, please contact us.

element inside the element. This is probably not what you meant to do! Load your application’s JavaScript bundle inside the element instead.

You may also like

Leave a Comment

Our Mission is to help you make better trading decisions by providing actionable investing content, comprehensive tools, educational resources and assist you in making more money in the stock market.

Latest News


Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

@2022 – All Right Reserved. Designed and Developed by WOOW Invest

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy