stock market
Thetrump coin crypto Hang Seng Index opened higher last Friday but remained at the day's high level. Subsequently, it fluctuated back and forth, mostly trading in the range of 19,360 to 19,500. The index had a daily volatility of 170.22 points with a trading volume of 91.25 billion yuan. The Hang Seng Index and the H-shares Index rose by 0.33% and 0.23% respectively, while the Hang Seng Tech Index fell by 0.2%. After rising to a high since June 21, the Hang Seng Index closed with a bearish candlestick and filled the gap from the previous day's decline. Fortunately, it managed to rise above the 250-day Simple Moving Average (SMA) and stay above it. The MACD bull divergence widened, with 794 stocks rising and 855 stocks falling throughout the day. Overall market conditions were slightly weak, not as strong as the index, with a slight hint of "buy on dips" sentiment. Cathay Pacific (0293) announced positive financial results at noon, expecting a consolidated net profit attributable to shareholders of approximately HK$4 to HK$4.5 billion for the first half of 2023. In contrast, the company recorded a net loss attributable to shareholders of HK$4.999 billion in the same period last year. Cathay Pacific's stock price rose in the afternoon, closing with a 4.68% increase. The Hong Kong stock market was closed on Monday, July 17th, due to the impact of a typhoon. However, other markets continued to operate, and the A-share market weakened, possibly due to Mainland China's second-quarter GDP growth of 6.3%, which was lower than expected. The US stock market has been fluctuating positively, but ADRs are declining. The Hang Seng Index is expected to weaken, with support at the 200-day Simple Moving Average (around 19,253).
