Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

Patrick
Rejaunier

Equity Analyst
By the same author
More articles

Stress outbreak in Asia

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/23/2019 | 11:05am EDT

Asian stock exchanges are once again giving way in the face of the continuing deterioration in relations between Washington and Beijing, a veritable technological cold war.





Over the last five sessions, the index dropped by 3.7%.

In this context, few Hang Seng values resist the wave of profit taking. Over this reference period, a handful of stocks managed to stand out such as Bank of China (+2.2%) or the electricity supplier CLP Holdings (+4.7%).

On the other hand, some companies are under pressure from the selling current, such as Tencent (-7.2%) or Sunny Optical Technology (-13%), the latter being particularly affected by the Huawei case.
Graphically, on a daily basis, the Hong Kong Index confirms its negative short-term trend. The decline began to gain momentum with 2900 points lost in a single movement.

Moving averages become negative again and the next contact with the support of 26860 points is crucial for the holding of the courses. Indeed, a break would send the index in the direction of the lowest, from the end of 2018, to 25000 points. On the other hand, a rebound could be envisaged up to 29,000 points, but the obstacles to achieving this are likely to be tough.

 

Patrick Rejaunier
© MarketScreener.com 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0