Home Forex Markets The positive US GDP data dragged down US stocks, and the Hang Seng Index (HSI) opened lower and showed resilience

The positive US GDP data dragged down US stocks, and the Hang Seng Index (HSI) opened lower and showed resilience

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The positive US GDP data dragged down US stocks, and the Hang Seng Index (HSI) opened lower and showed resilience

The Hang Seng Index (HSI) opened lower and moved higher on Friday, closing slightly lower as the stronger-than-expected U.S. GDP data overnight led to a sharp decline in U.S. stocks. The outlook for the HSI remains positive as the uptrend that started in early November remains intact.

The Hang Seng Index (HSI) opened lower and closed higher by 0.44%

The data released by the United States on Thursday showed that the final value of the real GDP annualized quarterly rate in the third quarter was revised up to 3.2%, higher than the expected 2.9%. At the same time, the data showed that the annualized quarterly rate of the core PCE price index in the third quarter was 4.7%, which was higher than the expected value of 4.6%. In addition, the number of weekly initial jobless claims announced was 216,000, which was lower than the expected 222,000.

Overnight, the overall performance of the U.S. economic data has increased the hawkish expectations of the Federal Reserve, and the market risk appetite has been suppressed. The gram index fell as much as 2.18%.

Affected by the downturn in U.S. stocks overnight, the Hang Seng Index (HSI) in Hong Kong fell 1.51% at the opening on Friday, but then the Hang Seng rebounded and narrowed the decline to close down 0.44%. The Hang Seng Technology Index closed down 2.05% on Friday. On December 23, the net inflow of funds into the Hong Kong stock market through Hong Kong Stock Connect was 2.341 billion yuan, and the net purchase was 680 million yuan.

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On Friday, 16 stocks in the Hang Seng Index rose, 57 fell and 3 were flat. The top three constituent stocks with the best performance and their gains were: China Unicom rose 6.84%; AIA rose 3.34%; WuXi Biologics rose 3.25%. The top three constituent stocks with the worst performance and their declines were: Ali Health fell 4.96%; BYD shares fell 3.72%; Geely Automobile fell 2.51%. The main heavyweights performed as follows: Tencent Holdings fell 1.11%; Alibaba fell 1.59%; Meituan fell 1.61%.

Hang Seng Index (HSI) Trend Technical Analysis

The daily chart shows that the Hang Seng Index (HSI) callback is supported by the gap of 19200-19500. Considering that the upward trend that started in early November is still intact, the outlook for the Hang Seng Index is still upward. If it continues to rise, the Hang Seng Index may further strengthen and point to 20,000 points. If it breaks through this mark, it may usher in greater room for growth. And if it falls back and adjusts, there will be intensive support in the 19000 to 19200 area, which may limit the downside space and risks of the Hang Seng Index. (Follow the author on Twitter @Legen_DailyFX )

U.S. GDP data dragged down U.S. stocks, Hang Seng Index (HSI) opened lower and showed resilience

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