HANG SENG INDEX has shed 0.51% as US yields rally across the board

Yesterday at a glance: HANG SENG INDEX slumps 0.51% to close at 20,424 yesterday.

The US yield curve struggled to maintain its balance as bond yields rose across the board. The iShares U.S. Treasury Bond ETF declined 0.79% to trade at $22.69.

The MACD is significantly below its signal line, which suggests the market is running out of bearish momentum and could revert to a positive outlook as bulls regain control. HANG SENG INDEX's lower Bollinger Band® is at 20,300, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems HANG SENG INDEX is set to appreciate despite today's setback.

In the meantime, negative performances are also seen in other markets, Dow Jones is down to 33,130, losing 697.1 points, after ending the previous session around 33,827. KOSPI Composite Index is down to 2,417.68, losing 41.32 points, after ending the previous session around 2,459. S&P 500 falls 2% yesterday and closed at 4,079.

HANG SENG INDEX has recovered 39.78% since descending to a significant low of 14,700 around 3 months ago.