Tuesday, January 31, 2023

Hang Seng Index Testing 23-Year Rising Trend Line


Long-Term Hang Seng Monthly Chart.

Long-Term Hang Seng Monthly Chart.

Amidst the on-going concerns about COVID, inflation and a potential energy crisis, we also have China to worry about.

That is, the Chinese stock market. And in particular, the .

For the past few month, we have heard worries about the global economy and supply-chain issues. Well, we managed to layer in another major concern this month with the over-sized Chinese investment firm Evergrande teetering on the brink of default. This has sent Chinese stocks tumbling lower.

Today, we look at a long-term monthly chart of the Hang Send Index.

As you can see, the powerful Chinese stock market index is testing 23-year rising trend line support. And at the same time, it’s also nearing its 2016 and 2019 support at (1).

What the Hang Song Index does here will send a very important message to stocks and investors around the world. Stay tuned.

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