Hang Seng Opened Thursday’s Gains
Asia stocks rise as US equities also jumped from a high rise, as of the Hang Seng opened higher on Thursday (23/4).
Hong Kong’s Hang Seng Index rose 0.6% to a level of 28,112.38, the index of Hong Kong H-share index up 0.6% at 14,763.32, the Shanghai Composite Index rose 0.4% at 4,414.48.
Asian equity market movements on Wednesday (22/4), Hong Kong’s main index has managed to close higher by extending gains from the previous session.
The course of trading in the European session, the Hang Seng index was closed up with recorded an increase of 0.3% in the level of 27.933.85 points with trade volume reached 2.4 billion shares. As for the China Enterprises index closed up 1.0% have at the level of 14.669.73.
In stock movement in the territory of Hong Kong, for the Chinese company Strategic been observed increased by 61.2%, CCT Land monitored flats, and for the company Ping Shan Tea was observed to decrease by 3.2%.
Technically, the index on the trading session today, Thursday (23/04) is likely to strengthen, test positive trend. At the M15 chart bullish hammer formation provides opportunities for the index to move upside. However, the volume of which is likely to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first resistance level of 28 260 and 28 186 28350. If you fail, then the next index is expected to tend to reexamine the level of support that is 28150 and continued until the possibility of being in the 28060 area.
Yen Not Moving To Stronger US Dollar
Yen still to dollar moved higher on Thursday (23/4) after the greenback was supported by an increase in the US dollar sentiment.
UDSJPY rose 0.03%, at the level of 119.95. Yen itself vulnerable to the US dollar, as of the increase in home sales increased by US 5:19 million in March, the highest level in 18 months, in addition to the dollar was supported by the US Treasury yields higher (10-year yield rose almost 7 basis points for 1982 %). From the issue of the increase in US interest rates, the strengthening of the dollar could also push back in mid-year.
New York Fed President William C. Dudley said the latest inflation data was not strong enough to warrant the increase in the short term, despite healthy economic growth.
Technically, today’s trading session on Thursday (23/04), the dollar yen pair likely to move in a positive trend.
A stronger yen is mainly expected to immediately re-examine the minimum resistance at 122.30 and 124.10 maximum. Meanwhile, if the Yen was able to break and stays below 120.02, which the other alternative scenario will be Yen likely to test support in 119.50 and 119.00 area.
Gold Record Closing Price Lowest April
Gold ended the Wednesday trading at its lowest level in April after some positive US data and the strengthening of the stock market dimming the appeal of the precious metal investment. Selling pressure also came bullion as the US dollar pared losses against the euro after the data block 18-state disappointing.
US economic data on Wednesday showed Existing Home Sales rose 6.1% in March to 5.19 million units, which is the fastest pace in 18 months.
In the physical market, top Indian consumers have started the celebration of the festival of Akshaya Tritiya gold purchases on Tuesday. But the purchase did not show a significant increase, although the local gold price down. Economic difficulties that hit rural areas has hit demand, while projections of further price declines have prompted consumers refrain from buying.
Technically, gold in today’s trading session on Thursday (23/04) potentially bearish, tested negative trend back, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Bands that began to widen, thus giving impetus to the gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1181.10 and re-test the maximum level of 1176.80. However, if the price of gold is able to break and hold above 1186.40, the estimated price of gold could potentially test the 1188.10 and 1190.50 resistance.
