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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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Rate Hike Expectations Easing! Gold Set to Break $4,100
Summary:
The latest PCE data for June shows that inflationary pressures in the United States have eased somewhat compared with the previous month.
Trading
4075.70
ENTRY
4600.00
TGT
3600.00
SL
4074.95 +32.09 +0.79%
0
Point
Flat
3600.00
SL
CLOSING
4075.70
ENTRY
4600.00
TGT
Fundamentals
Iran’s Islamic Revolutionary Guard Corps stated that, following a U.S. airstrike on a building on Qeshm Island in Iran, Iran launched attacks on U.S. military bases in Kuwait, Jordan, and Bahrain. The Iranian military also stated that the Strait of Hormuz will remain closed and that “the aggressors will surely be punished.” Ongoing tensions in the Middle East may limit gold’s upside potential, as they could push up crude oil prices and prompt central banks to keep interest rates high for longer. According to data from the CME FedWatch Tool, the market currently prices in a probability of nearly 63.4% for a U.S. interest rate hike in September, down from about 77% ahead of the Fed’s July meeting.
The June PCE price index rose 3.7% year-over-year, down from 4.1% in May; it fell 0.1% month-over-month, marking its weakest performance since April 2020; the core PCE rose 3.3% year-over-year and increased by only 0.1% month-over-month, with both figures slowing compared to the previous month. This cooling of inflation was primarily driven by a temporary drop in international oil prices during the U.S.-Iran ceasefire. However, as the ceasefire agreement collapsed and tensions in the Middle East escalated again, Brent crude oil rose back above $90 per barrel, and the average U.S. gasoline price rebounded to over $4 per gallon. The market widely believes that rising energy prices may once again push up overall inflation in the future.
Technical Analysis
On the four-hour chart, the Bollinger Bands are beginning to narrow, moving averages have flattened, and the MACD fast and slow lines are oscillating near the 0 axis. The RSI stands at 52, indicating strong market caution. On the daily chart, the Bollinger Bands are narrowing, moving averages have flattened, and a trend reversal could occur at any time. The RSI stands at 47, with investors largely adopting a wait-and-see approach. However, gold is approaching its bottom range; therefore, the recommended strategy is to buy on dips.
Trading Recommendation
Trading Direction: Buy
Entry Price: 4070
Target Price: 4600
Stop-Loss Price: 3600
Support Levels: 3900, 3600, 3500
Resistance Levels: 4200, 4300, 4600
Risk Warnings and Investment Disclaimers
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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