Hong Kong Exchanges End Up
At the close of trading on Friday (08/01), the Hang Seng index in Hong Kong Stock Exchange closed up 120.37 points, or 0.59 percent, at 20,453.71. Strengthening the Hang Seng index was helped to strengthen exchanges with the Chinese government stimulus and rising crude Beijing Asian session.
At the close of trading on China’s stock markets on Friday (06/01), the Shanghai index rebounded maintain, closed up 61.77 points, or 1.98 percent, at 3186.78. Strengthening exchanges compelled government action to stop the controversial system of circuit breakers, the central bank set the yuan higher fixed rate and said the government-controlled funds to buy stocks. This strengthening of the Chinese stock exchange closure also strengthen Hong Kong this afternoon.
Also helping to support the increase in the Hang Seng index, the price of oil rose during Asian trade with crude oil futures price of West Texas Intermediate (WTI) was up 2.04 percent at $ 33.95 per barrel. Global benchmark Brent oil prices rose 1.99 percent at $ 34.42 per barrel.
At the close of trading, shares of China listed in Hong Kong closed positive. CNOOC, PetroChina and Sinopec closed up between 0.93 percent to 4.11 percent.
Technically,
Resistance: 20030 20100 20210 Prev. High / Low: 20017/19829
Support: 19900 19820 19700 Running Price: 19968
Comment: To intraday trade today suggest Buy at the level of 19 750 19800 a stop loss at the level of the target at the level of 20180.
Yen Darting Into Strongest Level
Yen bolted to the strongest level since Agusrus because of the fall in value of assets associated with economic growth in China pushed the big speculators and hedge funds aim to divert them to the haven currency for the first time before Shinzon Abe occupying the seat of power in 2012.
The Japanese currency rose by 3% this year, it was the largest increase among 31 other currencies, because of the decline during the eight-day losing streak on the value of the yuan reference to Thursday transmit shocks to the financial markets. Dollar on Friday completing their biggest drop against the yen since August 2013 as traders reduce their bets on a rate hike in March by the Federal Reserve, ignoring data that showed employers added more workers than economists forecast in December.
Currency analyst at Bank of New Zealand Ltd. in Wellington said that risky assets look quite weak bargaining power at the moment with what’s happening in China and falling equity markets. It’s really choppy years and be brief environment to provide support against the yen.
Technically,
Resistance: 117.70 118.25 119.00 High / Low: 117.43 / 116.80
Support: 117.00 116.40 115.20 Running Price: 117.26
Comment: To intraday trade today suggest Buy 116.70 stop loss at the level of 116.50 at the level of the target at the level of 118.20.
Gold Prices Back Stronger
Trading commodity futures exchange on Monday (11/1), the price of gold and silver was observed traded higher after managed to increase in the previous week.
Ongoing trade in the Asian session, gold futures for February delivery rose 0.83% observed at the level of $ 1.107.00 per troy ounce on the Comex division of the US. Meanwhile, silver futures for March delivery rose 00:55% observed at the level of $ 13,995 per troy ounce.
Gold and silver prices traded higher observed at the beginning of this week, after gold futures trading recorded a weekly gain of 3:54% or $ 34.40 per troy ounce. The increase has been obtained by the gold in the last week has been affected by the chaos of the world geopolitical conditions, so this increases the value of safe-haven in commodity markets, as investors will tend to seek the protection of their assets.
North Korea officially confirmed that it had conducted a nuclear test and asserted that they would not surrender to facilitate nuclear power in the country. In addition, tensions between Iran and Saudi Arabia is another factor heightened geopolitical turmoil the world.
Meanwhile, on Friday gains experienced by gold futures was limited due to the high rate of growth of employment in the US territory. In an official statement released by the US Bureau of Labor Statistics says that the Nonfarm Employment Change has grown as much as 292K in December in which the figure is far from the previous month with an increase of 252K.
The US Bureau of Labor Statistics also reported that the current US unemployment rate remained at 5.0% figure for December from 5.0% in November. As for average income – average hourly workers remained unchanged or by 0.0% in December.
Technically,
Resistance: 1105.50 1107.10 1109.20 High / Low: 1108.20 / 1103.20
Support: 1101.00 1094.40 1092.80 Running Price: 1103.80
Comment: To intraday trade today suggest Sell at level 1105.30 1107.50 stop loss at the level of the target at the level of 1095.30.
