Hang Seng Index is expected to return to “big times"
The Hang Seng Index hit a record high of 27868 on Aug. 8, hit a 27878 mid-year high, closing at 27848, up 800 points from last week, rising nearly 3% and rising for the second consecutive week. The country that also broke through the Aug. 2 high 11147, hit a new high of 11316, on Friday to close at 11288, week rose 5.6%, also rose for the second consecutive week.
US stocks, the Du Fu and the S & P 500 index fell after two weeks to stabilize, up by 0.6% and 0.7% respectively; the Nasdaq rose 0.8% in the week, ending a five-week decline. US economic data released last week in general, new and second-hand housing sales, durable goods orders data are worse than expected, but the focus of the market are concentrated in the global central bank governor meeting, especially the US Federal Reserve Chairman Yelun and the European Central Bank President Draghi made the conversation.
This week the United States will have a series of significant economic data released, including consumer confidence, second quarter economic growth revised value, ADP employment report, personal income and expenses, Chicago Purchasing Managers Index, non-farm jobs and unemployment, supply management association manufacturing index , Construction spending and the University of Michigan consumer sentiment index, I believe the market focus will be transferred to economic data.
A shares, although the recent economic data show that China’s economic growth has slowed, but the company’s performance, especially financial performance is ideal, driven by the market rose, the Shanghai Composite Index finally broke through 3300, reported on Friday to 3331, hit from 2016 New Year since January. If this can stand above 3300, I believe A shares will follow the global stock market into the bull market. This will help push Hong Kong stocks further, especially the HSCEI. Technically, the HSCEI broke through 11,100, short-term expected to try 11550. As for the Hang Seng Index, the midline is expected to challenge the 2015 high times seen high 28589.