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Risk Warning on Trading HK Stocks
Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
HK Stock Trading Fees and Taxation
Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
HK Non-Essential Consumer Goods Industry
The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.
HK Real Estate Industry
In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.
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Market Trend
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Latest Update
Risk Warning on Trading HK Stocks
Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
HK Stock Trading Fees and Taxation
Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
HK Non-Essential Consumer Goods Industry
The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.
HK Real Estate Industry
In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.
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Bitcoin has broken out of a long consolidation range and is approaching the next round level of $37K.
The crypto market continues to climb, rising 3.4% in the last 24 hours to $1.38 trillion. Bitcoin was again the driver, adding 3.8%. Altcoins are moving slower but up, adding between 1.7% (BNB) and 7.7% (Polygon).
Bitcoin has broken out of a long consolidation range and is approaching the next round level of $37K. The technical implementation of this pattern suggests a rise to $41-45K, depending on which point we choose as the start of the last impulse. The upper limit looks like a suitable target with a pivot point close to it. Near it, in April 2022, the corrective rebound ended, and the most relentless phase of the sell-off began.
Despite Bitcoin’s strong recovery since the beginning of the year, the supply of coins is extremely limited due to the actions of hoarders. Many metrics that characterise “bitcoin inactivity” have reached historic highs, Glassnode noted.
The significant increase in Open Interest in bitcoin futures creates conditions for the price of digital gold to continue rising, according to YouTube analyst CredibleCrypto.
The European Banking Authority has launched a public consultation on capital and liquidity requirements for issuers of stablecoins and other digital tokens.
According to Bloomberg, USDC stablecoin issuer Circle Internet Financial is considering an IPO in early 2024.
Swiss cryptocurrency bank SEBA received a licence from the Hong Kong Securities and Futures Commission, allowing it to provide digital asset-related services to residents.
Exchange Binance announced the launch of Web3 Wallet, available to users via the platform’s mobile app. The utility uses Multi-Party Computing technology, which splits private keys into three parts and stores them on different servers.
In the past two weeks, the price actions of Spot Gold (XAU/USD) have started to lose some of their glitter as a safe haven play due to the “status quo” situation in the ongoing Israel-Hamas conflict without any further rise in the geopolitical risk premium at this juncture.
Also, a rotation back into long-duration risk assets such as the US mega-cap technology and growth-oriented equities ex-post FOMC Fed Chair Powell’s press conference and the lacklustre US non-farm payrolls and US ISM Services PMI data for October where the Nasdaq 100 recorded a weekly gain of +5.07% last week may have put a damper on gold’s stagflation hedge purpose.
Broke below its 20-day moving average with a minor bearish “Head & Shoulders”
The medium-term uptrend phase of Gold (XAU/USD) has remained in place since its 6 October low of US$1,810 as its price actions continued to trade above its key 200-day moving average and the pull-back of its former descending channel resistance now acting as a support at US$1,903.
In the short term, Gold (XAU/USD) is likely in the process of undergoing a corrective decline or pull-back sequence to negate the overbought condition of its recent steep rally of +11% from its 6 October low to 27 October 2023 high.
Watch the US$1,972 key short-term pivotal resistance for a further potential slide toward the intermediate support zone of US$1,932/1,920 (50, 200-day moving averages & the exit target potential of the minor bearish “Head & Shoulders” breakout).
Failure to hold at US$1,920 may extend the corrective pull-back towards the key medium-term support of US$1,903 (the pull-back of the former descending channel resistance from the May 2023 high & and close to the 50% Fibonacci retracement of prior rally from 6 October low to 27 October 2230 high).
On the flip side, a clearance above US$1,972 invalidates the corrective pull-back scenario to jumpstart potentially another bullish impulsive upmove sequence towards the minor range resistance of US$2,006 before the next incoming intermediate resistance zone at US$2,028/2,037.
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