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April 21, 2023
Yesterday at a glance: HANG SENG INDEX ended yesterday at 20,076 following from closing yesterday at 20,400. Overall, this represents a loss of 324.27 points or 1.57%.
Investor risk appetite was subdued as stocks were sold off in favour of perceivably safer alternatives such as government bonds. After trading at around 3.95%, the yield on one month government debt fell to 3.4%.
Hang Seng's lower Bollinger Band® is at 19,577, 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, it seems HANG SENG INDEX —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, after ending yesterday's session at 2,563, KOSPI Composite Index lost 18.6 points and is trading around 2,544.4. Nasdaq slips 0.8% yesterday and closed at 12,157.
Other assets are showing positive performances as FTSE is trading around 7,932.28 after ending yesterday's session at 7,902.61 (up 0.38% today).
The index has been trending positively for about a month. Having set a significant low of 14,700 5 months ago, HANG SENG INDEX is trading 38.88% higher.
