{"id":114988,"date":"2017-10-19T09:15:38","date_gmt":"2017-10-19T13:15:38","guid":{"rendered":"http:\/\/countingpips.com\/?p=114988"},"modified":"2018-06-01T15:55:31","modified_gmt":"2018-06-01T15:55:31","slug":"hong-kong-hk50-technical-positive-data-bullish-for-hong-kong-stock-index","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/hong-kong-hk50-technical-positive-data-bullish-for-hong-kong-stock-index\/","title":{"rendered":"Hong Kong HK50: Technical – Positive data bullish for Hong Kong stock index"},"content":{"rendered":"
October 19, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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

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

Positive data point to continued expansion of Hong Kong economy. The Nikkei Hong Kong Purchasing Managers\u2019 Index jumped to 51.2 in September from 49.7 in August. A reading above 50 indicates expansion in the private sector. Retail sales were robust at 3.2% on year in August, after 29-month high 4.5% annual growth in July.<\/p>\n

\"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 in that period.<\/p>\n