5575 was the squeeze. Hong Kong has stayed around 22800 to 23100 level for few days. Hasn't really fallen into the abyss. HK's dip during the day yesterday was due to -ve outlook by a rating agency, which cited a link to China and threat of censorship as the reason and not due to structural reasons.... investors didn't care.
No comments on Nikkei - haven't watched it and have rarely seen it affect XJO. There have been many days where I have seen -3% drop in Nikkei and XJO has not cared....
This is a yield hunt and our market is last bright spot in the West if investors want yield.
There is massive support on XJO between 5480 to 5595 range going all the way back to 2015. Best payoff is scalping few points. Also I never short indices in August - historically a boring month and boring is good for markets.
5575 was the squeeze. Hong Kong has stayed around 22800 to 23100...
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Last
7,959.3 |
Change
69.700(0.88%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,889.6 | 7,969.1 | 7,889.0 |
| XJO (ASX) Chart |