{"id":112007,"date":"2017-09-01T08:45:01","date_gmt":"2017-09-01T12:45:01","guid":{"rendered":"http:\/\/countingpips.com\/?p=112007"},"modified":"2017-09-01T07:14:28","modified_gmt":"2017-09-01T11:14:28","slug":"hk50-technical-analysis-positive-data-bullish-for-hong-kong-stocks","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/hk50-technical-analysis-positive-data-bullish-for-hong-kong-stocks\/","title":{"rendered":"HK50: Technical Analysis – Positive data bullish for Hong Kong stocks"},"content":{"rendered":"
September 1, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Positive economic data are bullish for Hong Kong stock index<\/strong><\/p>\n

Improving economic data indicate continued expansion of Hong Kong economy. Will HK 50<\/a> continue rising?<\/p>\n

The expansion rate of Hong Kong economy exceeds growth rates of most developed countries. In the second quarter of 2017 the Hong Kong GDP expanded 3.8% over the same period of last year. The Q1 GDP was even higher – 4.3%. The acceleration in private consumption and investment offset the drag of negative external trade as government spending also rose slightly. Recent data indicate retail sales continued growing in July – 4.6% in annual terms, after 0.5% growth in June. Further positive developments included narrowing of balance of trade deficit for July and continued expansion in the private sector as evidenced by fourth consecutive increase in Nikkei Hong Kong Purchasing Managers\u2019 Index above the 50-point threshold level. Improving economic reports point to continued expansion of Hong Kong economy.
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\"HK<\/p>\n

On the daily timeframe HK 50: D1<\/b> has been in upward trend since the beginning of 2017. The price has remained above the 50-day moving average MA(50) which has acted as a support during that period.<\/p>\n