Call Options In Hang Seng Suggested Ahead Of Key Chinese Trade Data
Jun, 08th 11:19
Hong Kong stocks are trading slightly higher on Wednesday, as investors look ahead to upcoming trade data from China for additional clues about its economic growth outlook. The blue chip Hang Seng Index was up by over 1% on Tuesday after US Fed Chair Janet Yellen gave a largely upbeat assessment on the US economic outlook, but gave few hints on when it will increase interest rates, which could imply that the Fed may now be in no rush to tighten, after a surprisingly weak job report last week. On the hourly chart, the index is currently trading at 21275. The RSI (14) is 67.71, near the overbought zone, indicating that the buying power is strong. Stochastic is about to reach the overbought zone and the %D line is catching up with %K line. The index is expected to climb further.
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