Home Forex Markets The Hang Seng Index (HSI) extended its rally, setting a new high in more than 11 months

The Hang Seng Index (HSI) extended its rally, setting a new high in more than 11 months

by WOOWinvest
0 comment
The Hang Seng Index (HSI) extended its rally, setting a new high in more than 11 months


The Hang Seng Index (HSI) maintained its strength and set a new high in nearly 11 months. Technically, it broke through the first-line resistance of 22,500 and ushered in further room for further growth.

The Hang Seng Index (HSI) edged up 0.54%

U.S. economic data overnight supported risk appetite, and the U.S. stock market was significantly higher. Overnight data showed that the initial value of the annualized quarterly rate of real GDP in the fourth quarter of the United States was 2.9%, higher than the expected 2.6%, and the highest since the fourth quarter of 2021. Meanwhile, orders for durable goods surged 5.6% in December, well above expectations of a 2.5% increase and the largest increase since July 2020.

The strong economic data on Thursday night eased concerns about economic growth and further boosted the already strong risk appetite in the near future. The three major US stock indexes achieved varying degrees of gains-the S&P 500 rose 1.1%, and the Dow Jones index rose 0.61%, and the Nasdaq rose 1.76%. The panic index continued to decline that day, falling nearly 2%.

The Hang Seng Index (HSI) extended its strength on Friday, albeit with modest gains. The HSI opened up 0.21%, weakened slightly in early trading to drop 0.37%, then rebounded and rose slightly by 0.54% at the close. The Hang Seng Technology Index closed up 1.04% on Friday. On January 27, the net inflow of funds into the Hong Kong stock market through Hong Kong Stock Connect was 3.065 billion yuan, and the net purchase was 1.122 billion yuan.

On Friday, 47 stocks in the Hang Seng Index rose, 27 fell and 2 were flat. The top three constituent stocks with the best performance and their gains were: Country Garden rose 6.23%; Longfor Group rose 4.25%; Sands China Co., Ltd. rose 4.09%. The top three constituent stocks with the worst performance and their declines were: Xinyi Solar fell 2.97%; Zhongsheng Holdings fell 2.23%; Lenovo Group fell 2.02%. The main heavyweights performed as follows: Tencent Holdings rose 2.02%; Alibaba fell 0.17%; China Construction Bank rose 0.96%.

Whether it is trend trading or range trading, the most important thing is to grasp the timing of entry! How do top traders choose the timing of entry and exit? Click to download this guide! 👇👇👇

Hang Seng Index (HSI) Trend Technical Analysis

The daily chart shows that the Hang Seng Index (HSI) has confirmed that it has broken through the key resistance at 22,500, which was at the high point of shocks in April and June last year, and the subsequent upward target may point to 23,000 and 23,500.

And if it falls back in the short term, the initial support will focus on 22500, and if it falls below, focus on the gap gap 22000-22400 area. (Follow the author on Twitter @Legen_DailyFX )

The Hang Seng Index (HSI) extended its rally, setting a new high in more than 11 months

The content on this web page is general market commentary only and may not constitute investment advice of any kind (tax, legal, accounting). This article does not constitute a direct investment invitation or recommendation for specific financial products. The content is for reference only. Readers should not rely on the information herein, nor should their actions or 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 or suitability of the information provided. This article is not intended to be disseminated within the territory of the People’s Republic of China (excluding Hong Kong, Macau and Taiwan for that matter), except as permitted by the applicable laws of the People’s Republic of China.

Copyright statement: Unless it is for browsing the information on this website, or in accordance with the applicable laws or the terms and conditions, without our specific written permission, no one may copy, usurp, upload, link, or publicly demonstrate to a third party in any way , distribute or transmit any information or content on this website. For unauthorized reprinting of infringements, we reserve the right to further pursue the legal responsibility of the relevant actors. If you have business cooperation needs such as marketing, resource exchange, etc., 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