Hang Seng Follow Referrals
Hang Seng Index Hong Kong stocks in early trading Thursday morning (13/8), opened with the same position at the previous closing position alias flat. The movement of stock exchange this morning seemed to respond to the movement of world oil prices this morning which limited moves.
Hong Kong stock exchange this morning reinforced by Belle International Holdings shares 1:40%, shares of China Shenhua Energy 0.65%, Hang Seng Bank stake 1:56%, shares of China Merchants Holdings International 1:57%, China Life Insurance shares 1:22%, CNOOC 1:21%, but imposed by shares of China Unicom Hong Kong -1.31%, China Overseas Land & Investment -1.30%, shares of Galaxy Entertainment Group -1.15%, and shares of Hong Kong Exchanges and Clearing -0.48%.
Hang Seng index movement looks posted gains this morning at 19:46 or 00:08% points, to 23935.48 points of the position be traded before closing at 23916.02 points position and managed to reach the highest position previously traded at 24324.19 points and the lowest position before the 23826.96 points.
Likewise with the movement Hang Seng index futures this morning, which opened observed streaking by 92% points or 0:40, by being 23.485poin from the closing position previously traded at position 23 573 points and reached the highest position previously traded at 24 286 points and the previous low at the position 23 735 points.
Based on the closing traded previously, the analyst estimated that the movement of the Hang Seng Index today will try to reverse direction rose to penetrate resistance at the first position with 23 875 points MA5 under BB10 daily, if the movement of the index broke through the first resistance is expected to try to penetrate the second resistance at the position with 240,000 points MA5 middle BB10 daily.
If the movement of the index managed to continue weakening traded previously, it is expected to try to penetrate the first support at position 23 580 points with under BB10 daily MA5 if the movement of the index broke through the first support is expected to try to penetrate the second support at position 23 465 points with MA5 under BB10 daily.
Technically, the index on the trading session today, Thursday (13/08) 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 24110 and 24190. If it fails at 24 043, then the next index is expected to tend to retest the support level of 24000 and continued until the possibilities are in the area of 23 910.
USD / JPY: Dollar Yen Corrected; Support 124.10 | Data Focus US
In trading Wednesday, the open price of USD / JPY at 125.11. The movement of this currency pair declined corrective, strengthening to a high level begins at 125.28 and then pulled back up to the low August 4 at the level of 123.80. Close price at 124.20, marked by bearish candle.
In the Asian session this morning the currency pair’s movements will likely come down to the level of corrective and furthest 123.52 123.78 – 123.14. If an increase in the potential range and farthest 125.07 125.28 – 125.62. Expansion of the resistance is in 126.06,126.21,126.41, 126.90,127.22,127.55 and extension support is in 122.49,122.19, 121.70.
Furthermore, today the market focused on the US economic calendar Core Retail Sales m / m, Retail Sales m / m, Unemployment Claims [19.30] will be released today.
When the pair made it through resistance at 124.58 level will likely potential targets towards the next resistance at 125.07 level and furthest ranges from 125.28 – 125.86.
And if otherwise successfully passed the level of support at 124.10 would likely potential targets towards the next support level at 123.78 and the farthest range of 123.52 – 122.99.
Technically, the trading session today, Thursday (13/08), the dollar yen pair has an opportunity to move in a negative trend.
Weakening Yen mainly expected soon reexamine the minimum support at 123.80 and 123.00 maximum. Meanwhile, if the Yen were able to break and hold above 124.35, then another alternative scenario the Yen likely to test resistance in 124.80 and 125.30 area.
Yuan Devaluation to Impact Price of Gold
Gold prices rose to the highest price in the last three weeks as the impact of the US dollar correction and falling stock markets after the devaluation of the Yuan by the Chinese two days ago. Gold prices (updated) rose above 3% of lowest position in recent years happened in the month of July.
The day after the yuan was devalued by 2% on Tuesday, the money market trading Wednesday morning the People’s Bank of China put the value of the yuan amid lower. This step will instantly raises new concerns war hit the value of the currency and stock markets globally, so make the most of investors feel anxious and sought protection by turning to Gold as a safety asset, a safe haven.
The market is still in a downtrend (bearish) despite the devaluation of the Yuan is able to surprise and make the price reverses. Indeed, buying new rally really strong to sustain gold prices continue to rise. At least a short-term rise this could be an opportunity to take profits after prices fell enough in yesterday.
Lowest priced at $ 1.077 per onz last July, the price of gold has risen by at least 4%. Spot market gold price rose 1.2% to $ 1,121.40 per onz. For gold with delivery in December, rose 1.4% to $ 1,123.60 per onz.
The weakening of the US dollar, down 1.1% from the other major currencies and simultaneously accompanied by a decline in US bond yields, has been a breath of fresh air for gold prices to go up. It is undeniable is that shadow US interest rate hike in the near future will create a stronger US dollar and gold back to back hit. There is no clear picture that the impact would be quite large Yuan affect the price of gold, but at least the price of gold could attempt to strengthen back and tried to move above the price of $ 1.130 per onz.
It must be understood that the weakening of the Yuan on the other hand it will affect the price of gold, a weak yuan would make Chinese gold importers will find it more expensive. China as the world’s major gold consumers would receive less favorable impact in the longer term. The economic slowdown in China, has made gold prices also fell. Decline in gold imports by China would further lower the gold price as well.
Meanwhile, there is another potential weakness of the Yuan for gold prices. Optimistically, the condition is still potential for Chinese monetary authorities to conduct further devaluation of the Yuan. Beijing interventions on the money market, the fear of inflation so that the public may choose to secure themselves by purchasing gold jewelry so that the demand for gold could rise as well.
Technically, gold in today’s trading session on Thursday (13/08) 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 1116.25 and re-test the maximum level of 1110.10. However, if the price of gold is able to break and hold above 1121.70, the estimated price of gold could potentially test the Resistance 1125.10 and 1130.50.
