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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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The Implications for The New Zealand Dollar and Japanese Yen Amidst Market Volatility
Summary:
The New Zealand dollar declined due to faltering business confidence, possibly leading to interest rate cuts, while the Japanese yen gained strength amid market volatility and official pledges of intervention.
CLOSED
90.801
ENTRY
89.901
TGT
91.259
SL
85.905 -0.243 -0.28%
458
Points
Loss
89.901
TGT
91.273
CLOSING
90.801
ENTRY
91.259
SL
Fundamental Analysis
The New Zealand dollar faced notable setbacks in Thursday's trading session, demonstrating a decline of up to 2.78% against major currencies. Despite the absence of pivotal economic data, the currency bore the brunt of subdued market sentiment. One significant factor contributing to this downturn was the final reading of the New Zealand Business Confidence Index.
The latest figures revealed a stark decrease in business confidence, with the index plummeting to 22.9 points from the previous reading of 34.7 points. This decline underscores a palpable weakening in business sentiment within New Zealand. Notably, a reading above 50 typically signals improving conditions, while figures below 50 indicate a deterioration. Thus, the persistently low confidence levels have exerted downward pressure on the New Zealand dollar in the currency markets, potentially prompting the Reserve Bank of New Zealand to consider interest rate cuts as a measure to stimulate economic activity.
New Zealand NBNZ Business Outlook Index (Mar)
Conversely, the Japanese yen demonstrated resilience for the second consecutive day, bolstering its position in the currency markets. Opening the American trading session with gains of approximately 1.59%, the yen garnered support from recent statements by Japanese authorities, including the government and the Bank of Japan. Officials reiterated their commitment to intervene in the foreign exchange market to stabilize the yen amidst the recent volatility.
Technical Analysis
Examining the 4-hour chart, the price currently stands at 90.478. Anticipations suggest a retracement towards the previous supply zone at 90.800, followed by a downward movement towards the oldest demand zone at 89.800. This projection aligns with the formation of a downtrend characterized by lower highs and lower lows, with the 20-period moving average indicating a downward trajectory.
NZDJPY Price Chart
Trading Recommendation
Trading Direction: Short
Entry Price: 90.801
Target Price: 89.901
Stop Loss: 91.259
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BeingTrader Trading Coach & Speaker, 10+ years of experience in the forex industry being an intraday and day trader. My major trading strategies are based on technical analysis, and I mainly use trends, support/resistance, moving averages, and market entry and exit point strategy, risk management and trading plan.
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