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Trade with simulated capital and earn real profits after you pass our trader assessment.
17 March 2025,01:44
Trade Of The Day
17 March 2025, 01:44
*China’s State Council announced a new stimulus plan aimed at boosting domestic consumption, increasing incomes, and introducing a childcare subsidy scheme. The measures include stabilizing stock and property markets, raising the minimum wage, and enforcing paid annual leave. However, the lack of clarity on the stimulus size has left investors cautiously optimistic. A stronger-than-expected package could support the yuan, Chinese equities, and broader global markets, while a weaker one may disappoint.
* Technical Breakdown: The Hang Seng Index rebounded sharply from the strong support level of 23,360.00. MACD signals diminishing bearish momentum, while RSI at 58 suggests further upside potential. If bullish momentum continues, the index could extend gains toward the Fibonacci expansion resistance level of 24,720.00. However, a break below 23,360.00 could lead to further losses toward 22,545.00.
A potential escalation in U.S.-China trade tensions may introduce volatility, limiting the Hang Seng’s upside potential.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Keep an eye on n stimulus package details, including the size and implementation timeline, and global trade developments for further market direction by following PU Xtrader’s financial news page.
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