Home Forex Markets The Hang Seng Index (HSI) continues to rebound moderately, holding the trend line within the month is expected to resume upward

The Hang Seng Index (HSI) continues to rebound moderately, holding the trend line within the month is expected to resume upward

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The Hang Seng Index (HSI) continues to rebound moderately, holding the trend line within the month is expected to resume upward


The Federal Reserve minutes boosted market risk appetite, and the Hang Seng Index (HSI) rebounded moderately for the second consecutive day. Technically, the Hang Seng Index has held the upward trend line since the beginning of the month, and it is expected to continue to strengthen and resume its upward trend in the future.

The Hang Seng Index (HSI) continued to rebound, closing up 0.78%

The minutes of the November meeting released by the Federal Reserve overnight showed that “the vast majority of participants believed that a slowdown in rate hikes may be appropriate.” Similar dovish clues boosted market risk appetite, and US stock indexes strengthened on Wednesday – S&P The 500 was up 0.59%, the Dow was up 0.28% and the Nasdaq was up 0.99%. The panic index VIX fell 4.5%, setting a new low since August 19.

Hong Kong’s Hang Seng Index (HSI) opened 0.92% higher on Thursday, rose 1.34% in early trading, fell as low as 0.04% in the session, and rose 0.78% at the close. The Hang Seng Technology Index closed up 0.79% on Thursday. The net outflow of funds from the Hong Kong stock market through Hong Kong Stock Connect on Thursday was 310 million yuan.

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On Thursday, 62 stocks in the Hang Seng Index rose, 10 fell and 1 was flat. The top three constituent stocks with the best performance and their gains were: Country Garden rose 20.43%; Longfor Group rose 12.21%; Country Garden Services rose 11.21%. The top three constituent stocks with the worst performance and their declines were: Xiaomi Group fell 3.57%; New World Development fell 3.37%; Jingdong Group fell 2.06%. The main heavyweights performed as follows: Tencent Holdings fell 0.57%; Alibaba rose 1.33%; China Construction Bank rose 0.65%.

China’s State Council executive meeting pointed out yesterday that monetary policy tools such as RRR cuts should be used in a timely and appropriate manner to maintain a reasonable and sufficient liquidity. It is also reported that the central bank and the China Banking and Insurance Regulatory Commission issued a notice on the current financial support for the stable and healthy development of the real estate market, which mentioned strengthening financial support for the real estate market. Real estate stocks on the Hang Seng Index rose sharply on Thursday, likely boosted by the news.

Hang Seng Index (HSI) Trend Technical Analysis

The daily chart shows that the Hang Seng Index (HSI) is holding the upward trend line (17500) that started at the beginning of the month. And if it breaks down in the short term, focus on the dense support area of ​​16800-17200, which now brings together the broken downward trend line, 50-day moving average, and 20-day moving average that started in June. (Follow the author on Twitter @Legen_DailyFX )

The Hang Seng Index (HSI) continues to rebound moderately, holding the trend line within the month is expected to resume upward

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