The Hang Seng Index Closed Positive
At the close of trading Tuesday, the Hang Seng index in Hong Kong ended positively Exchange rose 198.39 points, or 0.89% at 22.568.43. Strengthening supported by the positive performance of the index of leading shares on the Hong Kong stock exchange.
Cantilever index Tuesday is the Galaxy Entertainment Group Ltd shares rose 3.80%, shares of Sands China Ltd. rose 3.76%, shares of Hengan International Group Co Ltd rose 3.31%, shares of Cathay Pacific Airways Ltd. rose 2.78% , China Resources Land Ltd. shares rose 2.40%.
Likewise, the Hang Seng index futures movement on Tuesday, also closed higher by 190 points or 0.85% to 22,547 from the closing position at the end of the previous stock exchange trading at position 22,357 points and managed to record the biggest gains Tuesday at position 22 363 points and the largest decline today at position 22 677 points.
In trading on Wednesday Hong Kong shares need to consider the fundamental data in the country, which will be released the data Nikkei Manufacturing PMI in October, which is expected to be at the level of 46.3, compared to 45.7 last month.
Technically, the index on the trading session today, Wednesday (04/11) 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 22800 and 22850. If it fails at 22 723, then the next index is expected to tend to retest the support level of 22700 and continued up to the possibility of being in the 22640 area.
Sterling Trades Near 10-Week High Level
Pounds perched near 10-week highs and rose against the Euro on Tuesday, is not affected by the main data showed the UK construction sector is experiencing a slowdown, as investors focused on other aspects of the survey brighter.
Data released on Tuesday showed that the UK construction sector growth slowed in October after touching fastest pace in six months in September, but the survey component of new construction work drove to the fastest pace in the past year. PMI construction index fell slightly to 58.8 in October, lower than the previous month’s level of 59.9.
This report is only a day after another survey showed the PMI manufacturing index touch its highest level in 16 months indicates that the economic growth can be increased in Q4 2015. However, most market players and analysts are still to be wait and see in the survey the more dominant services sector to get full overview over the pace of UK economic recovery.
Another focus will be on the event Thursday, the so-called Super Tuesday, when the BoE released quarterly inflation report and the minutes along with the interest rate decision last MPC monetary meeting at the same time.
Technically, the trading session today, Wednesday (04/11), pound sterling-dollar pair has an opportunity to move in a negative trend.
The weakening of the pound sterling mainly expected soon reexamine the minimum support at 1.5250 and maximum 1.5350. Meanwhile, if the pound sterling was able to break and hold above 1.5417, then the other alternative scenario that is Pound chance to test resistance in 1.5440 and 1.5490 area.
Gold Prices Rise
Gold traded up slightly amid speculation that the Federal Reserve will begin to increase US interest rates in December. Tuesday.
Division of the New York Mercantile Exchange, spot gold for December delivery rose 12:09% to $ 1.136.90 troy ounce. Investors now see from the monthly payrolls data later on Friday in order to be a gauge of economic power. Bullion for immediate delivery was at $ 1,135.79 per ounce, according to Bloomberg.
The possibility that US bankers will act at a meeting in December was 50 percent on Monday from 34 per cent in the previous week, Holdings in exchange-traded products backed by gold shrank 3.4 metric tons of 1,536.26 tonnes on Monday, the lowest since October 13.
“Gold is here because people are really nervous about how this payroll will come out on Friday,” said Phil Streible, senior market strategist at futures RJO Futures in Chicago, this number seems to be the key to whether we get a rate hike this this year or not.
Consensus forecasts are for October payrolls rose 184,000 compared with 142,000 in the previous month, according to a Bloomberg survey, and the unemployment rate is projected at the level of 5 percent.
purity of 99.99 percent Bullion fell as much as 0.6 percent to 231.90 yuan per gram ($ 1,138.13 per ounce) on the Shanghai Gold Exchange. While spot silver, platinum and palladium rose in global markets.
Technically, gold on the trading session today, Wednesday (04/11) 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 1127.10 and re-test the maximum level of 1132.87. But if the gold price could not break and stays below 1122.10 then predicted gold prices could potentially test the Support 1120.78 and 1115.40.
