Searching through HSI componenets to find any stocks to buy into JPHK, I found that China Resources (0291.HK) just reached its 1yr high, but unfortunately it was still under the green short-term uptrend line. If the trend line breaks, we could expect China Resources to rise till 3.5 suggested by fibs.
Neverthelss, thanks to jobless claims and shrinking manufacturing in Philadelphia area, the US markets plunged yesterday. S&P dropped 1.69% while DJI tumbled 1.39%. We can hardly expect Hong Kong stocks to gain today.
China Resources would have to pullback after reaching the resistance.
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