Investment Daily

In spite of a stock decline in U.S. stock market, Hang Seng Index wasn’t impactedtoo much. The index decreased 157 points and closed at 25,136 points onThursday. HSCEI closed at 10,271 points, falling 111 points. Turnover increasedto $91.8 billion. An internet technology company released satisfactory 1Qearnings, benefitting the stock price. Yet a mobile equipment company waschallenged by another short seller report, leading to price slump again. In addition,the Chinese government may require 5% to 10% decline for the imported coal.The coal industry stocks closed mixed.

    Although Cisco share price fell more than 7% due to its revenue decline wasaccelerating, other major high technology stocks like Apple and Amazon shareprice rose, helped the US stock market to rebound on Thursday. Besides, initialweekly jobless claims data decline, also boost the US stock market sentiment. TheDow once rose 150 points but narrowed its gain in late session. The Dow and theNasdaq closed 56 points (to 20,663) and 44 points (to 6,055) higher respectively.

    Although Hang Seng Index is not too direct impacted by overseas market at themoment, the scandal on Trump continued to expand, might be a key negativeconcern. Besides, China also strengthen its financial regulatory, Hang Seng Indexshort term upside is limited.

    HSI gained support when falling to 10-DMA(25,038 points). Although it’s stilllocated above the middle line of Bollinger Band(24,709 points), the MACDbullish gap narrows. The first support is lowered to 24,709 points, and the nextsupport is 50-DMA 24,348 points. The first resistance maintains at 25,500 points.The second resistance is 26,000 points..