{"id":132012,"date":"2018-08-16T10:15:39","date_gmt":"2018-08-16T14:15:39","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=132012"},"modified":"2018-08-16T06:59:19","modified_gmt":"2018-08-16T10:59:19","slug":"hong-kong-50-technical-analysis-weaker-hong-kong-data-bearish-for-hk50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/hong-kong-50-technical-analysis-weaker-hong-kong-data-bearish-for-hk50\/","title":{"rendered":"Hong Kong 50: Technical Analysis – Weaker Hong Kong data bearish for HK50"},"content":{"rendered":"
August 16, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

Weaker Hong Kong data bearish for HK50<\/strong><\/p>\n

Hong Kong\u2019s economic expansion slowed in the second quarter and activities in private sector contracted in July. Will the HK50<\/a> continue declining?<\/p><\/blockquote>\n

Recent Hong Kong economic data were negative on balance after the inflation acceleration and almost 10% over year rise in retail sales in June. The balance of trade deficit widened in June on bigger rise in imports than exports, and business activity in private sector contracted fourth consecutive month in July. And the government reported the GDP growth slowed in the second quarter to 3.5% over year after upwardly revised 4.6% expansion in the first three months of 2018. The slowdown in exports due to uncertainty because of US-China trade dispute were cited as the main reason for slower growth. Weaker economic data are bearish for HK50.<\/p>\n

\"HK50\"<\/p>\n

On the daily timeframe the HK50: D1<\/b> is below the 50-day moving average MA(50) which is falling, and the price has breached below the support line.<\/p>\n