Hang Seng Index Close Up
Hong Kong Exchanges End Up Pushed Positive Earnings Report and the aforementioned increase in Crude Oil
At the close of trading yesterday, the Hang Seng index in Hong Kong Stock Exchange closed up 184 points, or 0.95 percent, at 19469.52. Strengthening the Hang Seng index pushed issuers positive earnings reports and rising crude oil.
Today some of the Hong Kong Stock Exchange listed companies reported earnings. The positive results of the issuer’s report provides support for the strengthening of the Hang Seng Index.
Hang Seng Bank on Monday reported its 2015 results in line with market expectations and announced a special dividend to shareholders. The bank posted net profit rose 82 percent to HK $ 27.49 billion last year mainly due to gains from the disposal of investments on the lender Industrial Bank. This is in line with market expectations ranging from HK $ 26.30 billion to HK $ 28.86 billion, and a net profit of HK $ 15.13 billion in 2014.
At the close of trading yesterday afternoon stocks that strengthen exchanges are shares of Bank of East Asia Ltd / The rose 9.62%, Hang Seng Bank Ltd shares rose 6.81%, shares of China Life Insurance Co Ltd rose 3.97%, Sun Hung Kai Properties Ltd. rose 3.47, Hang Lung Properties Ltd shares rose 3.09%.
Noon yesterday, there were gains in crude oil prices are on the strengthening of the Asian session. Crude oil prices recorded a rise during Asian hours with US crude up 1.96 percent at $ 30.22 a barrel at 12:50 when HK / SIN, after falling 3.67 percent on Friday in US hours. While the price of crude oil futures global benchmark Brent rose 1.18 percent at $ 33.40 a barrel after dropping 3.85 percent on the hour the US on Friday.
Energy stocks were also positive, including shares of China Shenhua Energy Co Ltd rose 1.42%, shares of China Petroleum & Chemical Corp. rose 0.46%, shares of PetroChina Co Ltd rose 0.39%.
While the Hang Seng index futures movement was observed also rose 117 points or 0.61% at 19,449.00, up from the previous closing at 19,332.00.
Technically,
Resistance: 19530 19600 19 680 Prev. High / Low: 19546/19343
Support: 19400 19310 19160 Closed Price: 19 467
Comment: For intraday trade today suggest Sell at level stop loss 19550 19610 19205 dilevel targets.
Mayor of London Support Against “Brexit” Immerse Sterling
Sterling fell against the dollar yesterday as the support of the mayor of London Boris Johnson to “Brexit” added to concerns that the UK at great risk to leave the EU. Post positive reaction to the success of Prime Minister David Cameron reached an agreement with the EU on Friday which will culminate in the determination of the referendum on 23 June, Johnson steps along with a number of senior Conservative party officials sparked a selloff in Asian session.
Pound collapsed to three-week lows against the dollar after European markets opened, down about 2% and towards the biggest daily drop in 11 months. Sterling also fell sharply against the euro, fell about 1% to around 78.00 pence per euro, and also dropped below the level of 160 yen for the first time in 2 years.
According to a strategic stronghold which wants Britain out of the euro zone has the support of Boris and today there are deep concerns that the UK may be seriously out and uncertainty will increase ahead of the referendum. Apart from cable attenuation, the volatility in the sterling has risen sharply, he added.
Technically,
Resistance: 1.4180 1.4220 1.4270 High / Low: 1.4155 / 1.4144
Support: 1.4100 1.4060 1.4000 Running Price: 1.4149
Comment: For intraday trade today suggest Buy at the level of 1.4125 stop loss at the level of 1.4090 and at the targets level of 1.4223.
Gold Down On Profit Taking, Stronger Dollar
Gold prices ended the US trading session with solid decline on profit-taking pressure from recent gains, the US dollar index is higher today and that generally improved sentiment on global stock markets earlier this week.
World stock markets mostly moved higher, the Shanghai stock index rose 2.3% on Monday after news that Chinese authorities announced a secondary home sales tax cuts.
US stock indexes also ended with sharp gains in afternoon trading yesterday.
Nymex crude oil prices moved higher and above $ 31 per barrel and this is driving the stock market. Other key outside markets is the condition of the US dollar index which posted solid gains in the previous day.
Technically,
Resistance: 1211.50 1213.80 1215.50 High / Low: 1210.60 / 1207.00
Support: 1206.00 1203.40 1200.80 Running Price: 1209.30
Comment: For intraday trade today suggest at level of 1212.80 Sell 1214.50 stop loss at the level of the target at the level of 1202.80.
