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.