Risk-on mood pushes HANG SENG INDEX 0.5% higher

A quick look at yesterday: HANG SENG INDEX improves 0.5% to close at 20,049 yesterday.

The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. HANG SENG INDEX's lower Bollinger Band® is at 19,700, indicating that the market is oversold and fertile for new buyers.

Overall, looking at the technical analysis landscape, it seems HANG SENG INDEX might continue pointing upwards in the short term.

Other markets are also showing gains as Dow Jones leaps up 1.65% yesterday and closed at 33,128. S&P 500 rallies 1.85% yesterday and closed at 4,061.22. Nasdaq is trading around 12,235 after ending yesterday's session at 11,966 (up 2.25% today).

HANG SENG INDEX is up 35.83% from the significant low of 14,700 it hit 6 months ago.