Hangseng Shoot On Market Opening
Stock trading Hang Seng rose on Friday (30/1) morning, but of retail stocks fell in Hong Kong.
Hong Kong’s Hang Seng Index rose 0.7% to a level of 24.771.37, H-Shares index rose 0.7% to a level of 11.820.56, the Shanghai Composite Index rose 0.4% to a level of 3.273.75.
The declining stock Nomura Holdings Inc. fell 19.6 percent, while HSBC Holdings Plc fell 7 percent, Xiah fell 3.6 percent, down 3.3 percent Sand Galaxy. As we all know some retailers Hong Kong had to struggle with declining consumer market, and also tourists dropped due to the economic slowdown in China. Hang Seng Closed Down Thursday.
The movement of the Asian equity markets, Hong Kong’s main index ended lower when the Fed decided to postpone the rate hike until next June.
The course of trading in the European session, the Hang Seng index had closed 1.1% lower at 24.595.85 level with trade volume reached 1.9 billion shares. As for the China Enterprises index had closed down 1.9% at the level of 11.736.09.
In stock movement in the territory of Hong Kong, the company Artini China Co. Ltd. has been observed to increase by 9.2%, China Construction Bank has decreased by 1.6%, and Bank of China has decreased by 2.3%.
Technically, the index on the trading session today, Friday (30/01) 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 rise, early indications bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first support level that is 24540 and 24490. If it fails at 24 596, then the next index is expected to tend to retest the resistance level that is 24 640 and continued until the possibilities are in the area of 24 690.
Yen Strengthens Thin Because Japanese Labor Data
Japan experienced a strengthening yen in early Friday after data showed a decrease in the number of unemployed, but gains limited as expected inflation data and industrial output showed a weaker than expected.
USD / JPY was trading at around 117.93 at 0915 GMT, down about 0.05%, while the AUD / USD has not changed much in the range of $ 0.7785, up about 0.3%, while the EUR / USD rose by 0:04% to $ 1.1334.
In Japan, core inflation data for December rose by 2.5%, is under estimated to rise 2.6%, while the unemployment rate fell to 3.4%, better than the estimate of 3.5% with the ratio of job seekers was at 1:15, it was the highest since 1992, compared with estimates of 1.12, and household spending fell by 3.4%, is under estimated to decline by 2.5% at an annual rate. Meanwhile other data showed industrial output rose 1%, were below expectations for a 1.3% rise in the monthly rate.
The data must be considered further is the home sales data early in December which will be released at 12:00 GMT, which is expected to drop further to the 10th time at an annual rate after a decline of 14.3% in November.
Technically, the trading session today, Friday (30/01), the dollar yen pair a chance to move in the negative trend.
The weakening of the yen mainly expected soon reexamine the minimum support at 116.10 and 115.00 maximum. Meanwhile, if the Yen was able to break and hold above 117.99, then the other alternative scenario that Yen chance to test resistance in 118.35 and 119.50 area.
Gold Record Largest Decline In 13 Months
Gold recorded its biggest daily percentage drop in 13 months on Thursday, a sharp drop in US jobless claims reinforces the commitment of the Federal Reserve to tighten monetary policy this year.
US Labor Department reported the number of people who filed claims for unemployment benefits fell to 265,000 in the week ended January 24 from the previous week were revised to 308,000. The decline was far more than economists forecast and became the lowest level since 2000.
The recovery in US stocks and a stronger dollar also reduces the appeal of gold as a safe haven asset. Wall Street managed to rally towards the end of trading due to crude oil prices rebounded encourage energy sector rebounds.
Gold previously depressed after the Federal Reserve emphasizes a commitment to raise interest rates this year. The Fed is expected to raise interest rates in the middle of this year after saying a solid US economy and the labor market continues to show improvement ahead of expectations that the US central bank.
Gold on Thursday to close at $ 1,256.45 per troy ounce, with daily highs $ 1,285.87 and $ 1,252.32.
Technically, gold in today’s trading session on Friday (30/01) 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 1255.33 and re-test the maximum level of 1250.73. However, if the price of gold is able to break and hold above 1259.90, the estimated price of gold could potentially test the 1261.40 and 1263.72 resistance.
