Hang Seng to New 2024 Highs on Property Support & Tech Earnings
HKG33 extended its gains helped by Beijing measures to prop the critical real estate market and mostly strong results by Alibaba, JD and Baidu
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HKG33 extended its gains helped by Beijing measures to prop the critical real estate market and mostly strong results by Alibaba, JD and Baidu
FXCM’s CHN50 CFD is showing good signs of progress on a primary trend basis. It has broken above its down sloping trendline that has defined price momentum since February 2021, indicating that the downwards momentum has certainly waned. Importantly its trend following indicators which have been in a bearish formation for over two years are looking to cross up (top black ellipse). This positivity is accompanied by an RSI which…
The better than expected growth data from China can’t stop the slump of HKG33, as risk aversion prevails following the new Middle East flare-up
In a historic move, the Bank of Japan unraveled the unorthodox and ultra-loose policies it has been implementing for nearly a decade, but pledged to maintain an accommodative stance
HKG33 makes a strong start to the week helped by Chinese inflation pickup and Xiaomi’s jump after announcing deliveries of its first EV within the month
The rally of the Japanese index rose past its 1989 highs creating exuberance, but the previous peak had led to prolonged slump as the central bank tightened policy and similarities can act as cautionary tale
Japan’s Nikkei 225 (JPN225) hit a record today, trading at a high of 39,178. This is higher than the previous high of 38,915 reached in 1989. The Japanese index has been powered by a weaker yen, strong earnings, and investor-friendly measures.
The index finds some support as China’s central bank cut the key rate that affects mortgages, but the move could pressure banking profitability
China’s inflation contacted at the fastest pace in three years despite Beijing’s efforts to support domestic consumption, leading HKG33 to new 2023 lows
HKG33 faces pressure in a mixed month, after today’s Manufacturing PMI showed further contraction, highlighting China’s fragile economic state
The commodity made a strong start to the week as China looks to provide further support to the real estate market and troubled developer Sunac meets restructuring conditions
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