{"id":146838,"date":"2019-05-02T10:45:34","date_gmt":"2019-05-02T14:45:34","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=146838"},"modified":"2019-05-02T07:00:35","modified_gmt":"2019-05-02T11:00:35","slug":"hk50-analysis-widening-trade-deficit-bearish-for-hk50-hong-kong-stocks","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/05\/hk50-analysis-widening-trade-deficit-bearish-for-hk50-hong-kong-stocks\/","title":{"rendered":"HK50 Analysis: Widening trade deficit bearish for HK50 Hong Kong Stocks"},"content":{"rendered":"
May 2, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Widening trade deficit bearish for HK50<\/strong><\/p>\n

Hong Kong trade deficit widened in March. Will the HK50 <\/a> decline continue?<\/p><\/blockquote>\n

Chinese economic data were weak recently: Caixin China manufacturing purchasing managers index dropped to 50.2 in April from 50.8 in March, while Hong Kong\u2019s trade deficit widened to H$59.2 billion in March from H$48.8 billion in February. Mainland China\u2019s factory activity weakened in April but still recorded expansion: a reading above the 50 level indicates an expansion in activity. Hong Kong trade deficit increased by 6.7% in March from H$55.5 billion in the same month of the previous year as exports fell 1.2% while imports declined 0.1%. The downtrend in Honk Kong\u2019s exports is still intact due mainly to declining manufacturing and trade activities in the region, according to state statistics agency. The US-China trade dispute is a downside risk for Hong Kong stock market while there are positive developments: Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer resumed trade negotiations with China, with sides reportedly close to a final deal.<\/p>\n

\"HK50<\/p>\n

On the daily timeframe HK50: D1 <\/b> is retracing after hitting 11-month high in mid-April.<\/p>\n