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6 March 2025,02:00
Trade Of The Day
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6 March 2025, 02:00
* HK50 soared after Chinese authorities committed to robust stimulus initiatives aimed at bolstering economic growth. During the National People’s Congress (NPC), China reaffirmed its 5% GDP growth target for 2025 and introduced measures to stimulate domestic consumption, including subsidies, pension hikes, and financial aid for households. These actions address concerns over deflation, a struggling property sector, and recent U.S. tariff increases. Investors are closely tracking additional stimulus announcements, particularly following the recent surge in Chinese tech stocks driven by AI startup DeepSeek.
* Technical Breakout: HK50 is climbing higher after surpassing the key resistance level of 22,820.00, with MACD indicating strengthening bullish momentum.
* Resistance and Support: If the uptrend continues, HK50 may advance toward 25,690.00. Conversely, a break below 22,820.00 could lead to a pullback, potentially driving the index down to 20,460.00.
Despite aggressive stimulus efforts, uncertainty surrounding the property market and persistent U.S.-China trade frictions could contribute to market volatility.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Keep an eye on China’s economic policies, U.S.-China trade relations, earnings in the Chinese tech sector, and broader equity market trends by following PU Xtrader’s financial news page.
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