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May 22, 2023Friday at a glance: HANG SENG INDEX rose 249.43 points to close at 19,700 Friday which makes for a move of 1.3%.
Hang Seng's lower Bollinger Band® is at 19,342, indicating that the market is oversold and fertile for new buyers.
Examining the technical analysis landscape, HANG SENG INDEX might continue its downtrend in the short term.
HANG SENG INDEX shows positive signs, other assets are also on par: KOSPI Composite Index went up by 0.81% Friday, and closed at 2,558.47. Notably, CAC rose 0.61% Friday and closed at 7,447. DAX went up by 0.69% Friday, and closed at 16,275.
The index has been trending lower for about a month. HANG SENG INDEX is now trading 14.27% below the significant high of 22,700 it set around 3 months ago.
