Home Forex Markets Hang Seng Technology Index (HSTECH) Trend Analysis: The index is approaching 3000, and the US stock earnings report will give guidance

Hang Seng Technology Index (HSTECH) Trend Analysis: The index is approaching 3000, and the US stock earnings report will give guidance

by WOOWinvest
0 comment
Hang Seng Technology Index (HSTECH) Trend Analysis: The index is approaching 3000, and the US stock earnings report will give guidance


Under the influence of interest rate hike and recession prospect, global stock market sentiment is still cautious, Hong Kong stock market continues to decline, and the Hang Seng Technology Index is falling towards the 3000 mark. The U.S. stock market’s third-quarter earnings report released one after another will give short-term guidance.

The constituent stocks of the Hang Seng Technology Index (HSTECH), the data is from the official website of the Hang Seng Index, and the update time is September 30, 2022. After adjustment, the three companies with the largest proportions since October are: Meituan, Tencent Holdings and Alibaba.

market atmosphere

The performance of Hong Kong stocks continues to be affected by both mainland and overseas factors. Currently, both overseas and domestic stock markets are under pressure, focusing on the performance of US stocks and the 20th National Congress of the Communist Party of China.

Overseas, U.S. inflation continued to remain high, and the Federal Reserve maintained a high-pressure trend of aggressive interest rate hikes, which was significantly detrimental to stock market sentiment. At the same time, the political and economic situation in Europe is still tense. The political situation and economic policy in the UK are highly uncertain, the energy situation in Europe has not been substantively eased, and the situation in Russia and Ukraine is protracted. mood.

On the mainland, the renminbi fell in tandem with the stock market. Investors are closely watching the upcoming “Twenty National Congress of the Communist Party of China”, hoping for more policy guidance.

In general, overseas and mainland stock markets are still under great pressure, and the focus is on US stock earnings reports and the spirit of important meetings in the short term.

Chart trend

Hang Seng Technology Index (HSTECH) Trend Analysis: The index is approaching 3000, and the US stock earnings report will give guidance

HSTECH continues the downward trend of shocks and is currently in the vicinity of 3100. It is advisable to pay attention to the development of the trend. If it stops falling at 3000-3100, it is expected to start a 3000-3300 shock, and if it falls below 3000, it will continue to fall below 2800.

Strategy

In terms of strategy, in the long run, the valuation of Hong Kong stocks is relatively low. The Hang Seng Technology Index has concentrated on the best technology stocks in Hong Kong. It is the best choice to buy the Hang Seng Technology Index ETF. Still an opportunity to accumulate chips. It is worth noting that before the global stock market as a whole bottoms out, the current fixed investment scale should remain unchanged, and it is not appropriate to stop fixed investment or increase the amount in the middle.

(by Arthur)

Follow me on Twitter @ArthurZ22426704

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

Newsletter

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