HONG KONG STOCK INDEX (HSI)
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Hang Seng
The Hang Seng surged 294 points or 1.4% to end at 20,892 on Thursday, reversing weakness in the prior session amid a rise in US futures after Wall Street's major indexes saw back-to-back gains Wednesday.
Markets revisited their highest level in almost two months, with optimism around China's AI sector mounting following a breakthrough from the start-up DeepSeek. The tech index climbed 2.6%, buoyed by robust gains from Sunny Optical Tech. (10.4%), Semiconductor Manufacturing (6.3%), and Hua Hong Semiconductor (7.5%).
BYD Co. soared near 20% as it plans to hold an intelligent strategy launch event next week and allow people to experience advanced intelligent driving. Consumers and property also booked solid gains, rising by 1.9% and 1.7%, respectively.
Limiting further gains was vigilance ahead of Friday’s NFP data in the US, and January CPI and PPI data in China next week. Other top movers included Geely Auto (5.0%), Wuxi Biologics (4.7%), SenseTime Group (4.2%), and KE Hlds. (3.7%).
(News Source: Tradingeconomics)
Plan A: Long only if market supported firm above 20,961. Targets are 21,179/21,371. Take reasonable stop loss for each trade.
Plan B: Short if market rebounded but resilient to 20,961. Targets are 20,681/20,461. Take reasonable stop loss for each trade.
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