HONG KONG STOCK INDEX (HSI)
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Hang Seng
Hong Kong stocks advanced on Friday, boosted by tech names, coming close to reclaiming an October peak even as some investors awaited US jobs data for clues on interest-rate decisions and took profits.
The Hang Seng Tech Index soared 9.03% in the week, extending its winning streak to four weeks. Tech giants Tencent (0700) and Alibaba (9988) posted gains of 6.36% and 13.25%, respectively.
Adding to complications, US-China trade tensions are now in a tit-for-tat mode. Aside from the limited retaliation seen from China in response to US President Donald Trump’s 10 per cent additional tariffs on Chinese goods, investors are looking for more policy measures from Beijing to prop up China’s property market and consumer demand ahead of key political meetings in March.
Hong Kong stocks advanced on Friday, boosted by tech names, coming close to reclaiming an October peak even as some investors awaited US jobs data for clues on interest-rate decisions and took profits.
The Hang Seng Tech Index soared 9.03% in the week, extending its winning streak to four weeks. Tech giants Tencent (0700) and Alibaba (9988) posted gains of 6.36% and 13.25%, respectively.
Adding to complications, US-China trade tensions are now in a tit-for-tat mode. Aside from the limited retaliation seen from China in response to US President Donald Trump’s 10 per cent additional tariffs on Chinese goods, investors are looking for more policy measures from Beijing to prop up China’s property market and consumer demand ahead of key political meetings in March.
(News Source: MSN)
Plan A: Long only if market supported firm above 21,381. Targets are 21,671/21,964 Take reasonable stop loss for each trade.
Plan B: Short if market resilient to 21,381. Targets are 21,114/20,957. Take reasonable stop loss for each trade.
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