21 Feb 2025 Global Index Futures - Hang Seng

HONG KONG STOCK INDEX (HSI)

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Hang Seng

The Hang Seng slipped 357 points or 1.6% to end at 22,577 on Thursday, extending the prior session's weakness amid broad sector declines. The index fell further from a four-month top, notched earlier in the week, as uncertainty mounted over US President Trump's tariff plans, with talks of a potential 25% levy on lumber.

The tech sector plunged by 3%, pressured by continued profit-taking. Alibaba Group Hlds. slid 2.6% ahead of its earnings reports, while Meituan tumbled 6.6% after announcing plans to expand social security protection for more workers.

Still, the benchmark index pared some early losses after Trump indicated the possibility of reaching a new trade deal with China. His remarks followed the imposition of sweeping 10% tariffs on all Chinese imports, which prompted Beijing to retaliate with its tariffs and file a WTO dispute against Washington. Notable decliners included Kuaishou Tech. (-7.7%), Lenovo Group (-7.2%)., Pop Mart Intl. (-6.1%), and Horizon Robotics (-6.2%).

(News Source: Tradingeconomics)

Plan A: Long only if market retraced but supported firm above 22,699. Targets are 22,840/23,024. Take reasonable stop loss for each trade. 

Plan B: Short if market resilient to 23,019. Targets are 22,840/22,699. Take reasonable stop loss for each trade. 

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