Hang Seng Index: Transforming Into A Medium-Term Bearish Trend Despite Improving Services PMI From China
Source: SeekingAlpha
2025-01-08 16:41:00 ET
Summary
- Sentiment remains fragile in China and Hong Kong stock market even China services activities have improved in December.
- Weak market breadth and a persistent bearish trend of the Chinese yuan since November has added to more woes to the Hang Seng Index.
- Watch the 19,700/20,130 key medium-term resistance on the Hang Seng Index.
By Kelvin Wong
This is a follow-up analysis of our prior report, “ Hang Seng Index: Medium-term bullish trend in jeopardy after China stimulus disappoints ” dated 12 November 2024. ...
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Hang Seng Index: Transforming Into A Medium-Term Bearish Trend Despite Improving Services PMI From China
Direxion Daily FTSE China Bear 3X
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