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Risk Warning on Trading HK Stocks
Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
HK Stock Trading Fees and Taxation
Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
HK Non-Essential Consumer Goods Industry
The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.
HK Real Estate Industry
In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.
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Consolidation Begins with Strong Resistance and Weak Support
Summary:
The GBP has risen to the monthly resistance level, facing upward pressure. In the short term, a pullback is expected; if it stabilizes after the pullback, we continue to recommend adopting a bullish outlook.
CLOSED
1.31054
ENTRY
1.32550
TGT
1.30050
SL
1.32921 +0.00066 +0.05%
284
Points
Profit
1.30050
SL
1.31338
CLOSING
1.31054
ENTRY
1.32550
TGT
Fundamentals
Recently, the UK economy has shown some positive indicators. Consumer spending in the UK experienced a slight increase in August, supported by higher food and beverage expenditures due to warmer weather. After a two-month decline, spending on credit and debit cards rose by 1%, while retail consumption also grew by 1%, marking the strongest growth since March. These figures suggest that as real incomes increase, interest rates ease, and consumer confidence strengthens, consumers may play an increasingly supportive role in the economy in the second half of this year.
However, the Bank of England (BOE) forecasts that inflation may rise again from its current level, reaching 2.75% by the end of the year. This inflation outlook could influence the GBPUSD, as it has shown a negative correlation with UK inflation rates in recent years.
Technical Analysis
The GBP experienced a significant rise in August, reaching a monthly resistance level of 1.3297 before beginning to pull back. During today's U.S. trading session, the GBP started to test the high point from July 23 at 1.3140. The GBPUSD has remained within an upward channel since the end of April.
If the 1.3140 level holds as support, the price is likely to rebound toward the previous high of 1.3267 and potentially attempt to establish a new high. If the price declines and significantly breaks the 1.3140 level, the next support will be at 1.3044.
Trading Recommendations
Trading Direction: Buy
Entry Price: 1.3085
Target Price: 1.3255
Stop Loss: 1.3005
Deadline: 2024-09-18 15:00:00
Support: 1.3076, 1.3044, 1.3010
Resistance: 1.3181, 1.3267, 1.3297
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You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.
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