HSI
Added 2024-07-29 10:48:05 +0000 UTCMonday is becoming an important day for the HSI, economic data and policy decisions appear to be regularly announced on this day to hopefully start the week off positively.
MT NEWS:
Hong Kong stocks rose by the most in two weeks on Monday following a rise in China's industrial profits while investors and traders alike are looking forward to more stimulus measures from the political bureau meeting.
While the industrial data looked encouraging, the property and domestic demand require more policies and measures to be brought back in green. The politburo meeting is expected to tackle the market expectations more directly compared to the long-run policies from the third plenum.
Goldmans take:
"For the July Politburo meeting, we expect policymakers to remain cautious on growth headwinds, reinforce their easing stance and signal more policy support for the remainder of this year, especially on the demand-side such as fiscal and housing easing," analysts at Goldman Sachs said in a note.
The market is expecting some assistance now from policy makers and I would like to see them act accordingly now, the market needs to be propped up and if the US was in this situation with flat inflation, they would have no issue pumping money into the economy to trigger growth.
If we can get this policy moving, positions should act responsively and move higher.
On the chart, it was a welcomed sight to see the 200 Day MA recaptured to start the week.
