Hang Seng High Sped On Friday
Hong Kong shares end trading at the end of last week, the Hang Seng index looks managed to increase the volume of reinforcement successfully obtained early trading, supported by an amazing performance of housing stocks in the country.
The housing sector in the country seemed to get a fresh breeze from the regulator of China cut the minimum down payment for the new investors to buy the first house several cities, thus spurring stock developers such as China shares China Resources Land closed soared by 8.70%, China Overseas Land & Investment 7:26%, shares of China Resources Power Holdings 5.66%, shares of Henderson Land Development 1.62%, shares of New World Development 2:27%, shares of China Resources Enterprise5.84%, China Overseas Land & Investment 6.84%.
In addition it also strengthened by the stock Galaxy Entertainment Group amounted to 9.64%, shares of AIA Group 6:24%, shares of Ping An Insurance Group Co. of China 4.82%, shares of Hang Seng Bank 1:51%, shares of Lenovo Group 2:30%, and shares of Hong Kong & China Gas 0.83%.
Spot Hang Seng Index last Friday successfully closed soared by 660.62 points, or 3:17%, to 21506.92 points of the position becoming pentupan end of the previous stock exchange trading on the position of 20846.30 points and managed to record the highest pengutan traded today at position 21516.50 points and the lowest today at 21130.11 points position.
Likewise, the movement of the Hang Seng index futures last Friday which also recorded a surge in shares of 689 points or 3:20%, with an advanced 21 488 points from the closing position at the end of the previous stock exchange trading at position 20 799 points and managed to record the biggest gains Friday then at position 21 529 points and the lowest last Friday at position 21 107 points.
Hong Kong shares traded Monday, predicted that investors will look forward and respond to the results of performance data releases retail sales in the country were released shortly trading Hong Kong shares closed last Friday, with an indication of better results from the previous data release.
Technically, the index on the trading session today, Monday (05/10) likely to strengthen, test positive trend. At the M15 chart bullish hammer formation to provide opportunities for the index to move upside. However, the volume tends to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, was oversold, signaling upside.
It is estimated, the index test the first resistance level of 21 560 and 21 507 21625. If it fails in, then the next index is expected to tend to retest the support level of 21460 and continued up to the possibility of being in the 21410 area.
Euro Unencumbered On Producer Data
Eruo weakened against the dollar ahead of the opening of the US session perdaganagn last Friday. The producer price index data fell in August raised speculation the European Central Bank (ECB) will add monetary stimulus in order to reduce the risk of deflation.
The ECB has stated kesiapannnya to add monetary stimulus if needed, although ECB President Mario Draghi said the ECB needs time to assess whether it is necessary to add monetary stimulus. But the statement was brought before the data showed the euro zone again experienced deflation.
Eurostat reported the producer price index in the euro zone fell 0.8% in August, becoming the biggest decline since January. When compared degan August 2014, the index fell 2.6% sebsar. On Wednesday, Eurostat reported a deflation in the euro zone in September, and the first since the ECB launched the asset purchase program in March.
Technically, today’s trading session on Monday (05/10), the pair Euro-dollar likely to move in a positive trend.
The strengthening Euro is mainly expected to immediately re-examine the minimal resistance at 1.1270 and maximum 1.1325. Meanwhile, if the Euro unable to break and stays below 1.1220 then the other alternative scenario that Euro likely to test support in 1.1200 area and 1.1140.
Gold Record Daily Performance Best Since January US NFP Post
Gold prices jumped more than 2% on the day last Friday to record its biggest daily rise since January, amid market confusion after the release of US jobs data grim eroding expectations the Federal Reserve interest rate hikes this year.
Investors raced cover short positions; while some started taking new long positions after the US Labor Department report showed employment outside the agricultural sector only rose 142,000 last month. That figure is far below the estimated 203,000 rise.
Previous gold price had slipped to near 2-week lows on hopes that upbeat US employment report will reinforce the potential for rising interest rates in the near future. This will boost the US dollar and vice versa dimming the appeal of non-yielding assets such as bullion.
Technically, gold on the trading session today, Monday (05/10) the potential reversal, testing positive trend, but prone to profit taking. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Band begins to shrink, thereby giving impetus for gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1142.20 and re-test the maximum level of 1147.87. But if the gold price could not break and stays below 1137.50 then predicted gold prices could potentially test the Support 1135.78 and 1130.40.
