Hang Seng Tech Index closing 1.67% lower

Hang Seng Tech Index is now down 3 days in a row, today closing at -1.67% lower. At one point in time, the index was as low as 6,833.88 with all the constituent stocks in the red. If you noticed once it crossed through 7,000, the rebound is pretty fast and started its consolidation before making an up move. 

It seems like 7,000 is the support level at this point in time and should hold when it touches or pierce through this level.  

Courtesy of AAStocks

Looking at the gainers for today, Sunny Optical and Tencent popped a gain of more than 1% and at one point in time, both were negative and close to its moving average (20MA for Sunny and 50MA for Tencent) before rebounding higher. Tencent will be announcing their results today and we will see if it will help push the prices higher for the rest of the week and at the same time, whether there are any geo political tension between China and US to negate any good news. 

Courtesy of AAStocks

Losers for today are primarily Hua Hong and China Lit where they have dropped -10.843% and -9.486% respectively. At one point in time, Hua Hong was down close to 17% before closing at 29.60. The losers however are small cap companies as you can see as compared to the top 5 gainers so we will need to monitor closely how the big cap companies will try to hold up the index. 

Courtesy of AAStocks

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Hang Seng Tech Index closing -0.65% lower

Hang Seng Tech Index closed lower for two days in a row, today at -0.65% lower. It was positive during the start of the day before it started to sell down about 1 hour into its opening and ended lower after lunch hour. 

Top gainers for today are Leveno and Fit Hon Teng which both are up more than 4% today. Tencent also staged a recovery today, reversing its downtrend with a close of +2.291%. It was at a high of 526 early today before it started to retract back to a low of 510 and eventually closing slightly higher at 513.50. Take note that Tencent will be reporting its earnings on 12 August and will see if good news can push its price higher. 

Top losers for today are Koolearn where it fell -7.343%. Overall there are more losers than winners in the HSTI composite and it did not show too much weakness considering Tencent and Alibaba's gain squared off Meituan and Xiaomi's losses. 

Courtesy of AAStocks

Courtesy of AAStocks

Courtesy of AAStocks

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Hang Seng Tech Index closing 0.39% higher

Courtesy of AAStocks

Hang Seng Tech Index was down almost the entire day before reversing into positive territory towards the end of the trading session. Eventually it close +0.39% higher for the day and with XD INC as its best performer, showing an impressive gain of +11.639% for today. If you noticed, the smaller cap companies are making big moves over the past few days while the large caps are generally either flat or showing gains of 1-2%.  

The latest news from US with regards to banning more apps like WeChat did not help the HSTI stocks with Tencent going as low as 543.50 (-3.11%) during the day before closing at 555.50 (-0.98%). I would expect more volatility to come with the US China technology war and China may start to target US companies in retaliation. 

Courtesy of AAStocks

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Hang Seng Tech Index up 1.49%

Courtesy of AAStocks

Up 3 days in a row for this week, the HSTI is maintaining its upward momentum pretty well with Nasdaq in the green last night too. Also to take note for today, the top performer is WEIMOB INC which went up more than 10% and followed by BYD which has an impressive gain of +8.219%.

The bigger constituents for HSTI did a pretty good move today with Tencent up by +2%, Alibaba up by +0.788%, Xiaomi up by +0.516% and Meituan up just a fraction by +0.183% considering it did a big up move just yesterday. 

Only 10 losers for the HSTI for today which again are the smaller constituent stocks apart from Alibaba Health. 

Courtesy of AAStocks

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Hang Seng Tech Index closing at +1.98% higher

Courtesy of AAStocks

Following last night's positive gain in Nasdaq, HSTI has again closed positive for today with a gain of 144.14 points (+1.98%). 

Looking at the top performers for today, HENGTEN was the big winner with a big up move of +15.546% and following that is MEITUAN at +8.674%. There were 7 stocks that were in the red for today with SMIC dropping -2.556%. The overall sentiment for HSTI still looks positive and we are still waiting to see when the ETF fund will be created. 

Courtesy of AAStocks

While Tencent and Sunny Optical are included in the benchmark Hang Seng Index, Alibaba, Meituan and Xiaomi, are not, which means most ETFs that track the main index are yet to cover these behemoths.

Source: https://www.scmp.com/business/banking-finance/article/3094735/fund-managers-expect-etfs-tracking-hang-seng-tech-index

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Hang Seng Tech Index closing 1.92% higher

Courtesy of AAStocks

Hang Seng Tech index since its debut has been rising steadily throughout but as mentioned in my previous post, it has been the smaller constituent companies that are pushing the index up. 

Looking at the top 5 again, we see MAOYAN and BYD taking the charge:

Courtesy of AAStocks

While the larger constituent stocks in the Hang Seng Tech Index (Alibaba, Tencent, Xiaomi) were flat or slightly positive with the exception of Meituan that moved up by 4.53%. There seem to be some rotation in play with the 30 companies that form the Hang Seng Tech Index but this is the main index that is positive as compared to HSI and HSCEI which were both down by -0.56% and -0.07% respectively. HSCEI has been defending the 10,000 mark and if it succeed, it will likely pose a good upmove in the short run. 

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

News Flash: Goldman Sachs, Bank of America Asked to Back Out from Ant Group's IPO: Wire

BABA-SW (09988.HK), a major shareholder of Ant Group, told Goldman Sachs and Bank of America that they should drop out from Ant Group's planned IPO in Hong Kong and Shanghai, as the two global banks had done deals for its competitors, Bloomberg citing insiders.

Chinese firms tend to be much more cautious than their counterparts in the U.S. or Europe when it comes to non-compete commitments, said the report.

Source: AAstocks

This would likely be the biggest IPO for 2020/2021 and Goldman/BoA might not have the opportunity to be the bookmakers. This may be good news for either JP Morgan, Morgan Stanley and some of the European banks like Credit Suisse and UBS to get a piece of this cake. 

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Hang Seng Tech Index up by 0.77%

Quick updates for today: 

Hang Seng Tech Index was up by 0.77% today primarily held up by SMIC (0981.HK), KOOLEARN (1797.HK), AAC TECH (2018.HK), FIT HON TENG (6088.HK) and BYD (0285.HK) which were all up more than 3% and overall turnover of 30.02 billion. 

The big names like Tencent (0700.HK), Xiaomi (1810.HK), Alibaba (9988.HK), Meituan (3690.HK) were mainly flat or down. It seems like there's some rotational play in the HSIT constituent stocks and we will continue to monitor when the ETF tracking fund will be up and running for HSI Tech, similar to HSI ETF and HSCEI ETF. 

It is important from Hong Kong/China's perspective to ensure that this index remains healthy and not get hammered down since its launch early this week to be comparable against the US Nasdaq.  

Below courtesy from Aastocks.com

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Alibaba (9988.HK and BABA SW)

Sharing some view on Alibaba which is listed in both US and Hong Kong, it is also part of the Hong Kong Tech Index where it is around 8.53% of the index.

Looking at the daily and weekly chart in US, it would seem like it is now consolidating in a big range, possibly reversing in a downward trend but will need to monitor how it goes for the next few days. Looking at the weekly chart, as long as it does not close below 234.19 it would be a good bullish signal.

One thing to note as per what was shared earlier, Alibaba like Tencent is also getting the hit from the India Government due to the border tensions so we will need to monitor that situation closely. Also as Alibaba is listed in US and with the US government hitting chinese companies hard and fast, Alibaba being one of the more prominent companies would likely get the (unwanted) attention.

*I currently hold 9988.HK and the reason why I chose that is because its firstly cheaper to own in Hong Kong and being in Asia it will be easier to monitor the stock as well since both are somewhat mirroring in terms of movement. Also considering there might be a possibility that Alibaba may just list in Hong Kong in the future due to the US China tension, funds may flow back to HK which may push the prices higher.

BABA Daily

BABA Weekly

Sharing also the HK charts although it is quite similar in nature.

9988.HK Daily

9988.HK Weekly

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!