Hang Seng Ends Negative Impact
At the close of trading on Friday, the Hang Seng index in Hong Kong Stock Exchange closed down -240.56 points, or -1.11 percent, at 21,464.05. Weakening pushed the index investor caution ahead of US rate hike next week.
“Many sectors are the losers today because investors do not want to buy at this time. Insurance, infrastructure stocks, some pharmaceutical stocks … I think the weakness will continue until the Fed meeting, “said said Ben Kwong Man-bun, director of KGI Asia. “Investors remain cautious and relatively skeptical whether there will be further pressure.”
Meeting of the US Federal Reserve’s policy board will be held two days are scheduled to begin December 15th.
In the close of trading this afternoon Hong Kong stock exchange, shares of the ballast exchange is stock Belle International Holdings Ltd which fell -8.73%, shares of Ping An Insurance Group Co. of China Ltd. fell -3.08%, CNOOC Ltd. dropped -2.82%, China Resources Land Ltd. shares fell -2.53%, shares of AIA Group Ltd. fell -2.20%.
Meanwhile movement observed Hang Seng index futures fell -219 points, or -1.01% at 21,411.00, down from the previous closing at 21,630.00.
For further trade, on Monday, the data will be released economic indicators Industrial Production (YoY) Q3, which is expected to be in a position -1.8%, down from the previous -1.3%.
But keep in mind the data of US economic indicators may affect pergarakan yan Wall Street. If Wall Street gained can help increase in global bourses.
Tonight will be released economic indicators Data Retail Sales (MoM) in November, which is indicated by the results of the consensus will be at 0.3%, up from the previous 0.1%.
There will also be a data Core PPI (MoM) in November, which is indicated by the results of the consensus will be at 0.1%, an increase from the previous decline at -0.3%.
There will also be a data PPI (MoM) in November, which is indicated by the results of the consensus will be in a position of 0%, an increase from the previous decline at -0.4%.
Technically, the index on the trading session today, Monday (14/12) 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 of 21000 and 20925. If it fails at 21066, then the next index is expected to tend to retest the resistance level 21100 and continued until the possibilities are in the 21160 area.
Yen Conditions Looks Stronger
The movement of the currency market on Monday (14/12), observed yen strengthened against the US dollar after the release of Japanese fundamental reports this morning, while the middle of the market’s attention drawn to the results of the inflation report and the Fed’s policy meeting this week.
Ongoing trade in the Asian session, the pair USDJPY observed to weaken the level of 0.03% at 120.94. Against other major currencies, with the EURJPY pair observed to weaken 12:17% to 132.75 and GBPJPY weakened 0:18% to 183.67.
Yen was observed naturally strengthening against some major currencies as the economic recovery in Japan. Sign – a sign of economic improvement has been shown by a report from the Bank of Japan said that Tankan manufacturing index experienced steady growth, seasonally adjusted to 12 in the fourth quarter from 12 in the third quarter. While the Bank of Japan also mentioned that the Tankan non-manufacturing index experienced steady growth, seasonally adjusted to 25 in the fourth quarter from 25 in the third quarter.
The movement of the yen will be re-examined following a report of industrial production of Japan and Japanese tertiary industry activity which is scheduled to be released at 11:30 Jakarta time. Meanwhile, amid the market’s attention focused on the inflation report and the results of the Fed’s policy meeting this week, in which it has succeeded in making visible the market sentiment persisting in anticipation of future market movements turmoil.
Technically, the trading session today, Monday (14/12), the dollar yen pair has an opportunity to move in a negative trend.
Weakening Yen mainly expected soon reexamine the minimum support at 120.10 and 119.50 maximum. Meanwhile, if the Yen is able to break and hold above 120.82, then another alternative scenario the Yen chance to test the resistance at 121.10 and 121.60 area.
Gold Ended with Increase
Spot gold prices soared in closing weekend early Saturday (12/12), erasing earlier losses, the weakening of the dollar and US Treasury yields. The price of gold is still on the path attenuation, which occurs seventh weekly decline in eight weeks as investors positioned themselves for a possible rise in US interest rates next week.
The dollar fell 0.3 percent against major world currencies. While China’s yuan fell to a 4.5 year low after the International Monetary Fund approved the inclusion of the yuan in the basket of reserve currencies on 30 November. Decline raised concerns that the weakness could weigh on the global economy.
Meanwhile, gold prices ignoring the weak crude oil prices, which experienced almost seven-year lows. Weakness in oil prices could trigger fears of deflation, a bearish factor for gold, which is often used as a hedge against oil-led inflation.
Spot gold prices rose 0.4 percent to 1,075.84 dollars per ounce tory. The price of gold is on track to decline 0.7 percent for the week.
Various data indicate that investors have increased bets that gold prices will soon drop to 1,000 dollars per tory ounce, while assets in the SPDR Gold Trust, a gold exchange-traded funds on, was at its lowest point since September 2008.
Meanwhile, silver prices fell to the lowest level since August 2009 at $ 13.76 per ounce. Silver and platinum prices leading seventh weekly loss in eight weeks. While Platinum spot price fell 0.8 percent to $ 842 per ounce. While the price of palladium rose 0.6 percent to $ 541.56 per ounce.
Technically, gold in today’s trading session on Monday (14/12) 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 Band begins to widen, thus giving impetus for gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1067.33 and re-test the maximum level of 1062.73. However, if the price of gold is able to break and hold above 1072.30, the predicted gold prices could potentially test Resistance ie, 1075.40 and 1080.72.
