Deepen Chinese Manufacturing Data Fall Hang Seng
Hong Kong shares yesterday, closed with the Hang Seng Index turned lower from strengthening early trading, with a continuing downward trend in three previous trading session. Results of Chinese manufacturing data releases negative burden the stock market trading Monday.
Chinese manufacturing data in April showed a decrease significantly to 48.9 basis points from the previous release at 49.6 basis points. From the results of these data releases helped impose shares traded today.
The attenuator shares are shares of Bank of China were closed down significantly by 0.75%, China Pacific Airways stocks closed significantly weakened by 2%, shares of China Merchants Holdings International, which closed down significantly by 0:57%, the shares of the Overseas Land & Investment closed significant weakening of 1.54%, China Resources Land shares which closed down significantly by 2.83%, shares of HSBC Holdings closed down significantly by 1.75%, and Hang Lung Properties shares closed down significantly by 3.62%.
The movement of Hang Seng index closed lower today at 9:18 points, or 0.03%, which is 28123.82 points from its previous close at 28133.00 position to reach the highest point at 28343.74 and the lowest point at 28017.20 points. Likewise, the movement of the Hang Seng Index futures today closed higher by 61 points or 0:21% which is 28 153 points from the previous penutpan position at 28 092 points to reach the highest at 28 353 points and the lowest was 27 953 points.
Fundamentally Hong Kong shares traded this Tuesday will be moving down to respond to the results of the Hong Kong retail sales data is expected to be negative.
Technically, Hang Seng Index on Monday with MA5 which shows the effort to penetrate the territory of the middle BB10 H4 H4 as well as the Stochastic indicator which shows still show a decline, the analyst estimated that the movement of the Hang Seng Index next Tuesday will again try to penetrate support at 27.980poin with MA5 middle BB10 H4, if the movement of the index broke through the first support then will try to penetrate the next support at 27 795 points by the middle MA5 BB10 H4.
If the movement of the index reversed course to strengthen, it is estimated that the movement of the index will try to penetrate the resistance at 28 280 points by the middle MA5 BB10 H4, if the movement of the index broke through the first support is expected to try to penetrate the next support at 28 440 points with MA5 on BB10 H4.
Technically, the index on the trading session today, Tuesday (05/05) 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, on the M15 charts, is oversold, signaling upside.
It is estimated, the index test the first resistance level of 28300 and 28360. If it fails at 28240, then the next index is expected to tend to retest the support level that is 28 210 and continued until the possibilities are in the 28150 area.
Yen Gains Against US Dollar Thin
The movement of the currency market on Tuesday (5/5), observed yen strengthened slightly against the US dollar this morning when trading in Japan is still a holiday in commemoration of “Children’s Day”.
Ongoing trade in the Asian session, the USDJPY fell a 0.01% to trade at 120.12 where the pair is seen moving hit a daily low of 120.09 for the session and 120.16 level to the highest sessions daily.
In the previous session, the yen against the US dollar looks not experience a lot of movement when the market turmoil amid holiday commemorating “Greenery Day”. While the current market focus has also been drawn to maturity on interest rate increases in the US territory.
Speculation rising interest rates in the US increased, as some recent reports indicate that the US has been an increased return on their economic growth.
Meanwhile, the market will be faced with a series of economic events in the US that includes a data report the balance of trade and services activities in the Americas. Along with the release of the data proficiency level, the yen will likely experience a shift back to the US dollar price.
Technically, today’s trading session on Tuesday (05/05), the dollar yen pair has an opportunity to move in a positive trend.
A stronger yen is mainly expected to immediately retest the resistance at 121.25 minimum and maximum 122.00. Meanwhile, if the Yen could not break below 120.16 and then survive another alternative scenario the Yen likely to test support in 119.80 and 119.00 area.
Gold Rebounds From Lowest Level 6 Week
Gold rose about 1% on Monday, rebounding from six-week lows due to weak Chinese manufacturing data and weaker dollar in early trade. HSBC reported a figure final index of China’s manufacturing sector dropped to 48.9, becoming the lowest level since April 2014, these data provide kekhawtiran will further economic slowdown in the world’s second largest.
However caution against the potential rise in US interest rates make gold traded within a narrow range. On Friday, spot gold fell to $ 1,170.20 per troy ounce, the lowest since March 20 after the Federal Reserve said the US economic slowdown is only temporary and will continue to raise interest rates this year.
Meanwhile Chicago Fed President Charles Evans, on Monday reiterated his belief that the Fed will not raise interest rates until early 2016. The interest rate is higher would encourage the strengthening of the dollar and put pressure on dollar-denominated commodities such as gold.
Gold ended at the level of $ 1188.80 per troy ounce in trading Monday, with daily lows and highs $ 1,177.65 $ 1,192.75.
Technically, gold in today’s trading session Tuesday (05/05) 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 1182.10 and re-test the maximum level of 1177.25. However, if the price of gold is able to break and hold above 1187.90, the estimated price of gold could potentially test the Resistance 1190.10 and 1195.25.
