HONG KONG STOCK INDEX (HSI)
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Hang Seng
The Hang Seng fell 176 points or 0.9% to end at 19,795 on Monday, ending lower for the second session to hit its lowest level since Dec.6. An unexpected slowdown in China's retail trade burdened sentiment, highlighting the ongoing struggles of the economy.
Meanwhile, China's statistics agency said domestic demand remains weak amid challenging global conditions. All sectors dipped, dragged by tech, property, and consumers. Still, the slump was capped by a modest rise in US futures, with markets awaiting the Fed's interest rate decision this week.
The central bank is expected to deliver another 25bps rate cut despite the recent uptick in inflation. Meantime, a PBoC official said Saturday the central bank saw room to trim further the RRR next year. On the fiscal front, Beijing will lift the 2025 budget deficit to allow more issuance of government bonds.
Notable losing stocks included Longfor Group (-4.9%), SenseTime Group (-4.5%), SITC Intl. (-3.4%), and Semicon Manufacturing (-2.5%).
(News Source: Tradingeconomics)
Plan A: Long if market supported firm above 19,774. Targets are 19,908/20,097. Take reasonable stop loss for each trade.
Plan B: Short if market resilient to 20,060. Targets are 19,907/19,774. Take reasonable stop loss for each trade.
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