๐ฐIndex Prediction: Guess Where HSI Is Likely to Move This Week?
Click to vote. Guess how $HSI(HSI)$ will close on Friday, October 11 ? If you get the correct answer, you may share 1000 Tiger Coins with other Tigers. Also, the first person who posts the right answers in the comments section will gets 100 Tiger Coins!
Hong Kong's stock market extended its three-week rally on Monday, reaching a two-and-a-half-year high in the morning session, buoyed by China's recent package of stimulus policies intended to boost the economy. $HSI(HSI)$ , $HSTECH(HSTECH)$ , and $HSCEI(HSCEI)$ have seen impressive gains in October of 43%, 35%, and 44%, respectively.
The semiconductor sector has surged, with $SMIC(00981)$ up nearly 60% since October and $HUA HONG SEMI(01347)$ rising over 55% in the same period. Brokerage stocks have also exploded, with $CITIC SEC(06030)$ up nearly 50% since October, $GF SEC(01776)$ up more than 53% since October, and $DFZQ(03958)$ soaring over 18% with a cumulative gain of over 78% since October.
CITIC Securities recently released a research report indicating that, despite a rapid increase in stock prices, the current valuation of Hong Kong stocks remains attractive compared to both global markets and historical levels, particularly in the growth and financial sectors. While the phase of rapid gains driven by short squeezes may be over, given the gradual implementation of policies and investors' continued excitement, it is unlikely that the Hang Seng Index has reached a temporary peak. The trend of valuation recovery is expected to continue into early November.
What are your thoughts on the future movement of the Hang Seng Index?
๐ฐEvent Details
Click to vote. Guess where $HSI(HSI)$ will move following their earnings report? If you get the correct answer, you may share 1000 Tiger Coins with other Tigers.
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Also, the first person who posts the right answers in the comments section will gets 100 Tiger Coins!
โฐEvent Duration
From October 7, 2024, to October 11, 2024, at 10:00 SGT
Index Prediction: Guess Where HSI Is Likely to Move This Week?(Single choice)Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
๐น๐๐ HSI Heating Up! Ready to Ride the Green Wave? ๐๐น๐ ๐บ๐ ฑ๐๐ ป๐ ป๐ ธ๐๐ ท๐บ
๐ ผ๐ ๐ ๐ พ๐๐ ด ๐ ธ๐ 5-10% ๐ ถ๐๐ ด๐ ด๐ ฝ๐น
Kia ora Tiger traders!
๐ Itโs time to tighten your seatbelts and grab your ๐ ถ๐๐ ด๐ ด๐ ฝ trade goggles, because the Hang Seng Index ($HSI) is gearing ๐บ up for one spicy week ahead!๐ถ๏ธ๐นWith a close at 23,099.78, weโre staring down the barrel of some serious bullish momentum! ๐๐น๐๐
๐ฏ Techies are on Fire!
The $HSI is like your favourite โโ๏ธโ๏ธโ๏ธ, extra strong this morning. With the MA10 & MA20 showing a bullish breakout, thereโs no time to hit ๐ค the snooze ๐! Even the MACD is strutting around like it owns the place, while the RSI is screaming overbought louder than a Tui during mating season๐ฆ. (Careful though, Tui calls donโt last foreverโฆand neither do overbought signals.)
๐จ๐ณ๐ญ๐ฐ๐ฒ๐ดThe Hong Kong and Macao Affairs Office of the State Council of China announced that it will continue to introduce more policies and measures aimed at benefiting Hong Kong and Macao.
๐จ๐ฐ Beijing hints at plans to boost ๐บ๐บ๐บ๐ญ๐ฐ Hong Kong economy a week before policy address.
scmp.com/news/hong-kong
Money Flow and rotation :
$Sensex down, $HSI up. Sell India ๐ฎ๐ณ buy China ๐จ๐ณ ~ Since 27Sep24.
๐ก Analysts are All In:
๐๐๐จ Chinese Stocks could soar another 20%, says Goldman Sachs ๐๐น๐จ
๐ Morgan Stanley: โExpect Q4 fireworks! Chinese economic stimulus is laying the groundwork for a sustained rally.โ ๐
๐ HSBC Global Research: โWatch for an 8% upside this week, with strong capital inflows pushing the market higher. Investors see Hong Kong as the front row seat for Chinaโs reopening.โ ๐๏ธ๐
๐ Bloomberg Intelligence: โTech is back, baby! With regulatory fears subsiding, this is prime time for tech-heavy stocks to lead the charge.โ
๐ช Green Zone (5% to 10%) Is the Sweet Spot ๐ข:
๐ Seasonality says it all! Historically, $HSI loves โค๏ธโค๏ธ this time of year. And the charts agree: the resistance levels at 23,106 and 23,257 are your targets this week. ๐ฆ๐ฆ๐ข๐ธ If capital keeps flowing in like itโs the Boxing Day or Black Friday sales, weโre in for some serious gains! ๐ธ๐ธ๐ธ๐ฐ
๐ Did You Know? ๐
When the HSI launched in 1969, it was dominated by British companies. Fast forward to today, and over 80% of the market cap comes from mainland ๐จ๐ณChinese giants, a reflection of Hong Kongโs evolution into a critical hub for Chinaโs top tech and financial firms! ๐ญ๐ฐ๐๐จ๐ณ
๐ค Hey Tiger Traders ~ Do you think this rally will keep defying gravity, or are we in for a rollercoaster ride before hitting the next peak?
@TigerGPTThe RSI is looking overcooked at above 70, but momentum is still roaring. Do you think HSI will break through resistance this week, or is a breather in store?
Happy trading ahead. Cheers, BC ๐
@TigerEvents @Tiger_comments @TigerPicks @TigerWire @TigerStars @TigerPM @Daily_Discussion
Given the recent rapid increase in the Hang Seng Index, a retracement seems highly probable. Such significant spikes often lead to overbought conditions, and a healthy uptrend typically requires a pullback to consolidate gains before resuming the rally. While CITIC Securities suggests that the current valuations remain attractive and that the trend of recovery is expected to continue, the market might need to digest the recent gains.
A pullback could provide a better entry point for investors and allow for more sustainable growth moving forward. Overall, while I remain optimistic about the long-term recovery, I believe a short-term retrace is necessary to maintain market health and momentum.
@TigerEvents @Tiger_comments @TigerStars @TigerGPT
Cheers and enjoy trading!