The Hang Seng Index has finally broken out of the short-medium term downtrend, as you can see, the market opened out of the channel I have drawn previously and is looking to challenge the 25,700 level. Expectations of a Biden win has led to positive expectations on the future growth prospects of the China/Hong Kong market.
In my opinion, I expect a contested election due to Trump's extremist behaviours. This may represent more uncertainty in the U.S. market; leading to a sell off. And may also act as a tailwind to Hong Kong/China with funds flowing in as a hedge. In the long-run, I am bullish on Hong Kong/China's growth prospects!
Views are my own and should be meant for discussion and educational purposes only. Please make your own investment/trading decisions!
In my opinion, I expect a contested election due to Trump's extremist behaviours. This may represent more uncertainty in the U.S. market; leading to a sell off. And may also act as a tailwind to Hong Kong/China with funds flowing in as a hedge. In the long-run, I am bullish on Hong Kong/China's growth prospects!
Views are my own and should be meant for discussion and educational purposes only. Please make your own investment/trading decisions!
Comment:
The HSI closed Friday with a bullish pinbar, MACD is also bullish. Hoping to see the HKEX open higher come Monday.
Comment:
As expected, the markets opened higher today. Probably on the news that Biden has won the election. Hopefully this signals a break out of the previous downtrend and the start of a new bull market in the HK exchange!