HSI
Added 2024-07-18 11:37:36 +0000 UTCThe market continues to wait for details of any potential economic reforms from China's Third Plenum today, I am not aware what time this finalises at but I suspect something would need to be announced very shortly
'China stocks closed higher after struggling for direction on Thursday, as investors cautiously awaited policy news from a key leadership gathering in Beijing that is expected to end later in the day.' from Reuters
We are still observing a higher low so far on the chart and the price is still between the 50 and 200 Day MA's and between the larger 0.5 - 0.618 Fib levels too.
This tells me that the exchange is still waiting for information.
More rumours are filtering through too that the US may increase sanctions on Semi companies to the US, which may have accelerated the Semi sell off yesterday, nothing is confirmed for now....but there was certainly a belief in the market yesterday that this is true.
