HSI
Added 2024-01-24 21:24:46 +0000 UTCHang Sang Index went very close this week to losing the October 2022 low....losing this level would have opened up a world of pain for Chinese stocks and ADRs, so it was no surprise to see policy makers come out aggressively this week to try and save the market.
We can see on the $BABA and $BIDU chart that they are both in descending wedges and HSI is in tougher situation in this downward trending channel, so until this can breakout of this channel and most importantly, get back above the green line, which has been a support line since the 1996 Asian Financial crash, then the work is not done just yet.
16500 is the level we need to see recaptured.
Comments
too many outflow , that is the issues. fundamentals of the company is good . very big concern.
Jedi
2024-01-25 02:21:55 +0000 UTCEverything I read indicates that China will keep going down into a recession, depression.. collapse. All negative. China is broken. I hear the narrative.. But China is not taking actions to fix the problem. This is scaring everyone.. I watched major outflows in NIO and other chinese equities today. Are you considering this?
Steven
2024-01-25 00:54:56 +0000 UTC
