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 2.85% lower

Courtesy of AAStocks 

Markets were not kind to the Tech Index today, choppy session throughout the day and closing -2.85% lower withe BYD, SMIC and Tencent leading the fall. As Tencent is the largest constituent stock for HSTI, it did result in the big fall for the index and due to the news that continues to circle around the impact on Tencent with WeChat potentially to be banned in US. 

Gainers for today are only two which is HENGTEN and MEITUAN. Meituan was up more than 1% throughout the day before closing at +0.27%. 

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 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 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!