Home Forex Markets Trend Analysis of Hang Seng Technology Index (HSTECH): The epidemic has impacted the stock prices of technology companies, and the resistance at 4500 is obvious

Trend Analysis of Hang Seng Technology Index (HSTECH): The epidemic has impacted the stock prices of technology companies, and the resistance at 4500 is obvious

by WOOWinvest
0 comment
Trend Analysis of Hang Seng Technology Index (HSTECH): The epidemic has impacted the stock prices of technology companies, and the resistance at 4500 is obvious


The epidemic spread in various places across China, impacting sectors such as tourism and catering, and the stock prices of big technology companies in related businesses were suppressed, which dragged down the performance of the Hang Seng Technology Index. 4500 line resistance is obvious, this line is called the key to short-term rebound.

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 July 29, 2022.

market atmosphere

Hong Kong stock market sentiment is affected by the tense epidemic situation in various parts of China, which has seriously affected the short-term market sentiment. The impact of the external market is awaiting the guidance of this week’s US inflation data.

Externally, the market continued to focus on Fed tightening and the performance of US stocks. In terms of data, the US non-agricultural data in July was significantly higher than market expectations, indicating that the US labor market is strong, which is conducive to the Fed’s continued tightening. The expectations for the Fed to raise interest rates by 50-75 basis points in September are still very high. US CPI, PPI and retail sales data are expected to give further guidance. In terms of U.S. stocks, maintaining a high level of consolidation has a boosting effect on the Hong Kong stock market.

In terms of internal trading, the market is affected by the epidemic in many places in China, and the short-term sentiment tends to be cautious, which has become the main factor affecting the performance of Hong Kong stocks. The epidemic situation in Sanya and Xinjiang is still in the developing stage. As popular areas, it has severely impacted domestic tourism, catering and other sectors, which in turn affected consumption, and the stock prices of technology companies were suppressed, dragging down the performance of the Hang Seng Technology Index. The development of the epidemic will continue to have an impact on the index.

Chart trend

Trend Analysis of Hang Seng Technology Index (HSTECH): The epidemic has impacted the stock prices of technology companies, and the resistance at 4500 is obvious

HSTECH continues to oscillate at 4800-3800. After the index falls below 4500, it becomes the main short-term resistance. If it continues to be blocked, it should pay attention to the 4000-3800 support below. After the market returns to the top of 4500, pay attention to the first-line performance of 4800. Breaking through 4800 is expected to restart the upward trend.

Fixed investment strategy

In terms of strategy, in the long run, the valuation of Hong Kong stocks is relatively low, and the Hang Seng Technology Index has concentrated on the best technology stocks in Hong Kong. Therefore, it is still the best choice to buy the Hang Seng Technology Index; the short-term market is disturbed by unexpected factors. Opportunities to keep the fixed investment ideas and fixed investment scale unchanged.

(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 responsibility of the relevant actors for the infringement 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