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28 April 2025,05:30
Trade Of The Day
*The HK50 (Hang Seng Index) extended gains, showing resilience despite ongoing US-China trade tensions. Investor sentiment was lifted after Chinese President Xi Jinping pledged new monetary tools and financial support to strengthen sectors like technology, consumption, and trade, including targeted aid for companies affected by tariffs and expanded job stabilization funds. However, the trade war remains the key driver for future Hang Seng movements.
*HK50 is trading higher and nearing a resistance level. The MACD indicates strengthening bullish momentum, while the RSI at 54 suggests further upside potential as it holds above the midline. If momentum persists, HK50 could rise toward the 22635.00 resistance. Conversely, failure to sustain gains may trigger a correction back toward the 21015.00 support level. A confirmed breakout is recommended before entering new positions.
US-China trade tensions continue to be a major source of volatility for Hang Seng Index.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Keep an eye on potential trade war for further market direction by following PU Xtrader’s financial news page.
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