Hong Kong Hang Seng Index (HSI), recently rebounded, after reaching the very bottom. For the last months HSI was in a decreasing channel until mid-June, when it followed an upward trend. Currently, the index stands at 19735.53.
The present HSI values are just above its ranges MA – 50 ($19448.51) and MA – 200 (19547.96). The index was able to slightly surpass these 50 and 200 days ranges, because of the recent jumps. This means that the Asian stocks are repairing some of their positions and the direction of Hong Kong binary markets should also benefit from it.
Partly, the Hong Kong stocks rose the most in last two weeks after the European leaders surprised investors with a deal easing rules for emergency loans to Spanish banks and making it easier to recapitalize the region’s troubled lenders. Additionally, share value escalated on speculations that the President Hu Jintao will offer measures to boost Hong Kong’s economy.
The Hang Seng Index (HSI) is one of the earliest stock market indexes in Hong Kong. Publicly launched on 24 November 1969, the HSI has become the most widely quoted indicator of the performance of the Hong Kong stock market.
The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.