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June 29, 2023HANG SENG INDEX is down to 18,934, after ending yesterday at 19,172. Overall, a 1.24% loss or 237.69 points today.
Bond sell-off and inverted yield curve raises the spectre of economic recession in the US; the iShares U.S. Treasury Bond ETF declined 0.84% to trade at $22.85.
Bollinger Bands® shows an indication of recovery: the lower band is at 18,665, a low enough level to, generally, suggest that Hang Seng is trading below its fair value.
Overall, looking at the technical analysis landscape, it seems HANG SENG INDEX might start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, KOSPI Composite Index stumbles 0.55% to trade around 2,550. FTSE is down 28.8 points from the beginning of the session and now trades around 7,471.69.
Other assets are showing positive performances as having closed the previous session at 33,853, Dow Jones is up 0.64% today to currently trade at around 34,068.
The index has been trending positively for about a month. Approximately 5 months ago, HANG SENG INDEX reached a significant high of 22,700 but has struggled to hold onto its gains and declined 15.5% since then.
