The Hang Seng Index (HSI) barely closed up 0.05% on Friday, with the global market risk appetite showing a tendency to deteriorate, and the outlook for the Hang Seng Index faces downside risks. Technically, the Hang Seng Index (HSI) continues to run within the range, and the direction of subsequent breakthroughs will determine the direction of the trend.
The U.S. jobless claims data released overnight was better than expected and fell for the first time in three weeks, which was good news for the labor market. A number of Fed officials issued hawkish remarks overnight, and the strong rise in the dollar is a reflection of investors continuing to bet on the Fed to raise interest rates sharply, and may be a precursor to weakening risk appetite.
The three major U.S. stock market indexes closed slightly higher on Wednesday, with the S&P 500 closing up 0.23%, the Dow Jones up 0.06% and the Nasdaq up 0.21%. It is worth noting that the US stock index futures have fallen significantly so far today. The S&P 500 index futures are now down 0.8%, and the panic index has risen by more than 4% so far today. These are signs that risk appetite has begun to decline.
Hong Kong’s Hang Seng Index (HSI) was volatile on Friday, down 0.31% at the opening, and then rose in shock. It rose as high as 0.67% in the morning, but only 0.05% was left at the close. The Hang Seng Technology Index closed slightly down 0.01% on Friday. Net inflows into the Hong Kong stock market through southbound trading on Friday were 2.091 billion yuan.
On Friday, 35 stocks in the Hang Seng Index rose, 31 fell and 3 were unchanged. The top three top performers were: Orient Overseas International, up 6.53%; Country Garden, up 4.18%; and Geely Auto, up 3.57%. The top three worst performers were: NetEase, down 6.34%; WuXi Biologics, down 4.88%; and Sunny Optical Technology, down 2.09%. The major heavyweights were as follows: Tencent Holdings rose 0.77%; Alibaba rose 1.42%; China Construction Bank rose 0.61%.
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) continues to run within the shock range (19500-20300), and how to break through the range will determine the direction of the trend. If it goes down in the short term, it will be supported near the bottom of the range at 19500, and a break below the range will mean a greater decline. If the short-term rebound goes up, pay attention to the 20-day moving average at 20100 and the top of the range at 20300 and other resistances. Breaking above the range means further rebound in the upside. (Follow the author on Twitter @Legen_DailyFX )
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