Hang Seng Slides on Poor China PMI & Country Garden Default Warning
HKG33 falls today as China’s factory activity contracted for fifth straight month and troubled property developer Country Garden warned of default, after massive H1 loss
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HKG33 falls today as China’s factory activity contracted for fifth straight month and troubled property developer Country Garden warned of default, after massive H1 loss
Fed Chair Powell kept the door open to more hikes on Friday, but the tech heavy index shows resilience to the hawkish messaging, helped by Nvidia’s AI-Powered blockbuster results
Chinese stock markets jumped after authorities announced measures to boost capital markets, including a cut in the stamp duty on stock trades
With just a week left of the month, the NAS100 August candlestick (blue arrow) shows interesting price action. Initially, the month was bearish, with bears taking the index down to the month low of 14,555. However, the bears lost control at this level with the bulls taking over. The bulls have pushed price back up to the 15,350 levels and remain in control. We caution that the monthly candle is…
HKG33 is having a bad month with new 2023 lows, but finds support today, helped from the strong quarterly results of Chinese tech giant Baidu
The tech heavy index rises as markets brace for Wednesday’s earnings by AI chip-maker Nvidia and the Fed’s gathering at Jackson Hole which kicks off on Thursday
The index made a poor start to the week, after Monday’s timid rate cut by the central bank and overall modest actions to support the failing recovery of the Chinese economy, but rises today
The UK index heads towards a losing week and is in risk of new 2023 lows, as the latest inflation and employment reports keep the central bank on its tightening path
The US index is having a bad month and dropped into the daily Ichimokou Cloud yesterday, as strong data and the Fed minutes keep the door open to further monetary tightening, but reacts today
China’s stock markets are weighed by renewed fears around the property market, after Country Garden’s profit warning, as recent data point to frail recovery of the world’s second largest economy
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