{"id":145087,"date":"2019-04-05T10:49:52","date_gmt":"2019-04-05T14:49:52","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=145087"},"modified":"2019-04-05T06:51:10","modified_gmt":"2019-04-05T10:51:10","slug":"hk50-analysis-hong-kong-stocks-hk50-technical-setup-remains-bullish","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/04\/hk50-analysis-hong-kong-stocks-hk50-technical-setup-remains-bullish\/","title":{"rendered":"HK50 Analysis: Hong Kong Stocks HK50 technical setup remains bullish"},"content":{"rendered":"
April 5, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

HK50 technical setup remains bullish<\/strong><\/p>\n

Continued contraction in private sector activities followed preceding report of falling retail sales in February. Will the HK50 <\/a> advance continue?<\/p><\/blockquote>\n

Hong Kong economic data have been weak recently: retail sales recorded 10.4% decline over year in February following 6.9% growth in January. The Nikkei PMI decline to 48 in March from 48.4 in February indicated the contraction in the private sector continued: above 50.0 indicates sector expansion, and contraction below. Slowing of activities is due to deteriorated US-China trade relations, where a progress in bilateral talks was qualified as \u201cninety percent of the deal is done, but the last 10% is the hardest part \u201d by a US Chamber of Commerce executive ahead of Vice Premier Liu\u2019s visit this week to Washington to continue negotiations. However technical indicators point to upside momentum for Hong Kong stock market. The unresolved US-China trade dispute remains a downside risk for Hong Kong stock market.<\/p>\n

\"HK50<\/p>\n

On the daily timeframe HK50: D1 <\/b> is rising remaining above the 50-day moving average MA(50), which is rising too. These are bullish developments.<\/p>\n