Just as we thought all might turn around for the HSI when it opened with a bang & going all green🌱🌱🌱 on 3/1 (Wed), the HSI immediately retreated 0.92% on 2/3 (Thu) as higher 🇺🇸 yields amid fears the Fed will keep raising interest rates to combat sticky inflation. This broke the hopes of HSI rebounding after registering its biggest daily gain in nearly 3 months on 3/1 (Wed) when it jumped 4.2% on the back of unexpectedly robust readings from 🇨🇳’s manufacturing purchasing managers' index (PMI) surveys. ⭐️The manufacturing PMI shot up to 52.6 from 50.1 in Jan, according to 🇨🇳's National Bureau of Statistics, above & 50-point mark that separates expansion & contraction in activity🥳 The PMI far exceeded an analyst forecast of 50.5 & was the highest reading since April 2012🥳🥳 ⭐️
HSI Starts Rebound: A good time to buy?
The Hang Seng Index jumped over 4% to 20,619 today, the biggest gain since December 5. The Tech Index surged 6%. The biggest winner was Tencent Holdings which advanced 6.2% to HK$368. -------- [TOPIC] What's the reason for this rebound? Is it a good time to buy HK stocks? What's your target price for HSI?
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