Stock Hong Kong Close Higher
At the close of trading yesterday, the Hang Seng index in Hong Kong closed positive Stock 311.96 points or 1.41% to 22500.22. Strengthening of the index follows the positive performance of Asian stock markets and shares superior.
Tencent shares, which trade in Hong Kong, rose 0.66 percent after The Wall Street Journal reported WeBank, an affiliate of the company, is trying to find additional capital of about $ 1 billion to strengthen its financial services.
While Glencore shares also rose about 6 percent even though the company is still struggling with the decline in commodity prices.
As for stocks that become amplifier stock exchanges Hongkong is Belle International Holdings Ltd that rose 3.32%, shares of China Shenhua Energy Co Ltd rose 3.22%, shares of China Resources Power Holdings Co Ltd rose 2.85%, China Construction Bank Corp. rose 2.59%, shares of China Unicom Hong Kong Ltd rose 2.48%.
While the Hang Seng index futures movement also experienced positive results, rose 353 points or 1.59% at 22 490 from the closing position at the end of the previous stock exchange trading on 22 137 positions.
Friday is no longer the economic indicator data which shall be released, but keep in mind the global market movements, commodity prices and global conditions after acts of terror in Paris.
Technically, the index on the trading session today, Friday (20/11) likely to weaken, test negative trends, the impact of Wall Street. At the M15 chart bearish engulfing formation provides opportunities for the index to move downside. However, the volume tends to increase, an early indication of bullish index. In addition, RSI, the M15 chart, was oversold, signaling upside.
It is estimated, the index test the first support level 22400 and 22325. If it fails at 22 462, then the next index is expected to tend to retest the resistance level 22500 and continued until the possibilities are in the area 22 550.
USDJPY Try Risen on Friday Morning
The movement of the currency market on Friday (20/11), observed US dollar strengthened against the yen to try to bounce back after posting a decline in the previous session as profit-taking among traders who had pressed back the natural weakening demand for the greenback.
Ongoing trade in the Asian session, the pair USDJPY monitored rose of 0.05% to trade at 122.91. The pair looks to move the session to hit a daily low of 122.85 and 122.96 levels daily highs for the session.
US dollar seen trying to bounce back naturally strengthening against the yen after the pair USDJPY closed lower in the previous session. Although the observed down yesterday, but experienced weakening greenback appears to have restricted when the recovery in the labor market and the manufacturing sector in the US territory.
In an official statement released by the US Labor Department said that initial jobless claims Americans have decreased, which is a seasonally adjusted 271K last week. Meanwhile, an official report released by the Federal Reserve declared the Philadelphia area manufacturing index have risen to a seasonally adjusted 1.9 in November from -4.5 in October.
Meanwhile, ahead of this weekend movement of USDJPY pair recorded a weekly gain on speculation that the Fed is ready to raise interest rates in coming December boosting demand for the greenback increased.
Technically, the trading session today, Friday (20/11), the dollar yen pair has an opportunity to move in a negative trend.
Weakening Yen mainly expected soon reexamine the minimum support at 122.25 and 121.50 maximum. Meanwhile, if the Yen is able to break and hold above 122.95, then another alternative scenario the Yen chance to test the resistance at 123.25 and 123.75 area.
Weakening Dollar Gold Price Bounce
Gold prices rose about 1% on Thursday, rebounding from the lowest level in nearly six years as an indication of the Federal Reserve will probably move cautiously to the cycle of interest rate increases weighed on the dollar and prompted investors to cover short positions.
Fed officials on Wednesday still said that in December still may be a rise in US interest rates.
Rising interest rates tend to weigh on gold, as it may cause a rise in the opportunity cost of ownership of gold is a non-yielding asset, at a time when the dollar strengthens, in which it was assessed the market today. Expectations that interest rates will rise has pushed the price of gold fell as much as 9% this year.
Spot gold prices rose by 1.2% at $ 1,081.60 / onz, while the price of gold futures rose $ 9.20 at $ 1,077.90. The precious metal touched its lowest level since February 2010 on Wednesday at $ 1,064.85.
Analysts say that I thought it would be a short-covering week before Thanksgiving has its roots from the Fed minutes yesterday. Basically they still imply a rate hike in December, but they slightly changed the wording.
He also added that it makes people think not like the belief in one direction as before after the release of minutes. The market has been at the crossroads for a while, so I think people will take some of their money from the market.
Technically, gold on the trading session today, Friday (20/11) 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 1088.50 and re-test the maximum level of 1093.10. But if the gold price could not break and stays below 1083.20 then predicted gold prices could potentially test the Support 1080.10 and 1075.40.
