HONG KONG STOCK INDEX (HSI)
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Hang Seng
The Hang Seng climbed 563 points or 2.7% to close at 21,858 on Wednesday, rebounding from the prior session's losses and reaching its highest level since early October amid sustained AI-driven enthusiasm. A solid rise in mainland markets also lifted sentiment, with their tech sector outperforming the Nasdaq 100 and entering a bull market over the past month.
A slight pullback in US futures tempered further gains, ahead of US key inflation data later today and as Fed Chair Powell will testify before the House Committee on Financial Service. All sectors posted strong gains, as property, consumer, and tech stocks rose more than 2%.
Alibaba Holdings soared 8.5% to its highest in four months after teaming up with Apple Inc. to introduce AI features for iPhone users in China. BYD Electronic jumped 10.1% following the launch of its advanced intelligent driving system. Other notable gainers included KE Hlds. (10.2%), Geely Auto (6.5%), Semicon Manufacturing (6.0%), and Lenovo Group (5.4%).
(News Source: Tradingeconomics)
Plan A: Long only if market retraced but supported firm above 21,639. Targets are 21,964/22,382. Take reasonable stop loss for each trade.
Plan B: Short if market failed to support above 21,639. Targets are 21,398/21,173. Take reasonable stop loss for each trade.
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