HSI: A-shares Listed on SSE and SZSE Open Higher, SSE Composite Index Up 0.39%

Summary:

SZSE Component Index was at 11,274.86 points, up 0.61%; Growth Enterprise Index was at 2,366.79 points, up 0.70%; SZSE SME Composite Index was at 7,766.54 points, up 0.63%. In the stock market, power equipment led the rise, and automotive, petroleum, petrochemicals, coal, non-ferrous metals, basic chemicals, and other sectors were among the top gainers. While social services led the decline, and banks, real estate, food and beverage, pharmaceutical and biological, agriculture, forestry, animal husbandry, and fishery were weak. On the news, Li Keqiang said that China's economy keeps running in a reasonable range and is generally in a recovery trend. China's National Development and Reform Commission said it will accelerate the first batch of 300-billion-yuan policy-oriented development financial instruments to form a physical workload as soon as possible. Many banks have lowered their listed deposit rates and the cap on rate increases.

BUY HongKong50

Close Time

CLOSED

18710.00

Entry Price

18850.00

18595.00

24972.90 +133.60 +0.54%

1150.0

Pips

Loss

18595.00

18593.20

Exit Price

18710.00

Entry Price

18850.00

I. Fundamentals

SZSE Component Index was at 11,274.86 points, up 0.61%; Growth Enterprise Index was at 2,366.79 points, up 0.70%; SZSE SME Composite Index was at 7,766.54 points, up 0.63%.

In the stock market, power equipment led the rise, and automotive, petroleum, petrochemicals, coal, non-ferrous metals, basic chemicals, and other sectors were among the top gainers. While social services led the decline, and banks, real estate, food and beverage, pharmaceutical and biological, agriculture, forestry, animal husbandry, and fishery were weak.

On the news, Li Keqiang said that China's economy keeps running in a reasonable range and is generally in a recovery trend. China's National Development and Reform Commission (NDRC) said it will accelerate the first batch of 300-billion-yuan policy-oriented development financial instruments to form a physical workload as soon as possible. Many banks have lowered their listed deposit rates and the cap on rate increases. China's Ministry of Agriculture and Rural Affairs deploys a comprehensive promotion of soybean meal reduction and substitution action. The NDRC vigorously release storage, and the single-month pork delivery reached the highest level in history. Fosun International reduced its holdings of H shares of New China Life Insurance to less than 5%. Yuyue Medical subsidiary increased its capital, and Tencent made a rare move under the balance sheet shrinkage.

Overnight international market dynamics: the Dow rose 197.26 points, up 0.64%, to 31019.68 points; the NASDAQ rose 86.62 points, up 0.76%, to 11535.02 points; the S&P 500 rose 26.56 points, up 0.69%, to 3899.89 points; Gold Dec futures prices fell $5.3 on September 19 from the previous trading day, closing at 1678.2 dollars per ounce, down 0.31%; Silver Dec futures prices fell 2.3 cents and closed at $19.358 per ounce, down 0.12%; prices of light crude oil futures to be delivered in October on the NYMEX rose $0.62 and closed at $85.73 per barrel, up 0.73%; prices of London Brent crude oil futures to be delivered in November rose $ 0.66 and closed at $ 92.01 per barrel, up 0.72%.

II. Technical Analysis

2.1 HSI Daily Chart

HSI: A-shares Listed on SSE and SZSE Open Higher, SSE Composite Index Up 0.39%_1

The key resistance above is at 18950.

2.2 HSI 4H Chart

HSI: A-shares Listed on SSE and SZSE Open Higher, SSE Composite Index Up 0.39%_2

The key resistance above is at 18865 and 18950.

2.3 HSI 1H Chart

HSI: A-shares Listed on SSE and SZSE Open Higher, SSE Composite Index Up 0.39%_3

The key resistance above is at 18865 and 18890.

HSI: A-shares Listed on SSE and SZSE Open Higher, SSE Composite Index Up 0.39%_4

Trading Recommendations

Go long on HSI at lows.

Entry price: 18710

Take profit: 18850

Stop loss: 18595

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