28 April 2025,05:19
Trade Of The Day
28 April 2025, 05:19
The HK50 (Hang Seng Index) extended gains, showing resilience despite ongoing US-China trade tensions. Investor sentiment was lifted after Chinese President Xi Jinping pledged new monetary tools and financial support to strengthen sectors like technology, consumption, and trade, including targeted aid for companies affected by tariffs and expanded job stabilization funds. However, the trade war remains the key driver for future Hang Seng movements.
Technical Breakout:
HK50 is trading higher and nearing a resistance level. The MACD indicates strengthening bullish momentum, while the RSI at 54 suggests further upside potential as it holds above the midline. If momentum persists, HK50 could rise toward the 22635.00 resistance. Conversely, failure to sustain gains may trigger a correction back toward the 21015.00 support level. A confirmed breakout is recommended before entering new positions.
Potential Risks: Persistent U.S.-China trade tensions remain a major source of market volatility.
Monitoring: Investors are advised to continue monitoring trade development between US and the world to gauge the likelihood movement for the asset classes.
Resistance levels: 22635.00, 24670.00
Support levels: 21015.00, 19155.00
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