News
7x24
Quotes
Economic Calendar
Video
Data
- Names
- Latest
- Prev.
Video
Latest Update
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.
Recent Searches
Trending Searches
View All
No data
Saudi Arabia Shouted Bears, Crude Oil Rose Sharply
Summary:
After the macro sentiment, perhaps oil prices will gradually tilt toward the bulls.
CLOSED
72.500
ENTRY
80.000
TGT
68.500
SL
60.585 +0.695 +1.16%
546
Points
Profit
68.500
SL
73.046
CLOSING
72.500
ENTRY
80.000
TGT
Fundamentals
During the Asian session on Wednesday (May 24), WTI oil prices are oscillating in a narrow range to the upside and are currently trading around 74.3. As Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that he would make short traders pay and reminded them to be careful, WTI crude rose 2.3% to an intraday high of $73.98 a barrel, which is also a three-week high in May. Besides, WTI oil prices broke through the 73.9 strong resistance high this afternoon to 74.4 and are currently hovering there to test the 73.9 high support.
Data: The preliminary Markit manufacturing PMI in the United States recorded a two-month low of 48.5 in May, compared with 50.2 in the previous month and the market expectaion of 50. However, the preliminary Markit services PMI in the United States recorded 55.1 in May, higher than market expectations of 52.6 and the previous 53.6. In short, the data is mixed, with the US economy still showing strong resilience.
Inventories: API crude oil inventories reported on Tuesday were sharply reduced unexpectedly. In the week ended May 19, crude oil inventories fell by about 6.8 million barrels, gasoline inventories by about 6.4 million, and distillate inventories by about 1.8 million. Analysts had predicted that crude inventories were expected to rise by about 800,000 barrels last week, gasoline inventories by about 1.1 million barrels, and distillate inventories by about 400,000 barrels.
Overall: Oil prices will eventually return to the supply and demand side after the macro disturbance. As it is currently in the peak consumption season of the summer and the global spot market has picked up in the past week. With the improvement of supply and demand, the global supply shortage is expected to gradually strengthen, and oil prices may rise in the future. In addition, OPEC+ may consider further production cuts at the June 4 meeting. Coupled with the sharp reduction in API crude oil and refined product inventories released today, the US Memorial Day holiday will kick off the summer travel season. Market optimism may heat up. In the near future, the oil market should still be mainly based on going long at lows. We will focus on whether the resistance of the 73.9 line can be successfully broken today.
Technical Analysis
In the daily chart, although prices are generally running in a descending channel, the MACD has already shown a golden cross signal. Oil prices have held above 70, trading above the 5-, 10- and 20-day EMAs and breaking above the upper edge of the box at 73.9. It suggests that the overall trend is expected to shift upward. Initial resistance above is around 76.5, further resistance is at 80.2, also refer to the 80 integer mark.
While initial support below is around the MA5 at 72.8, with further strong support around the week's low of 70.6. If this support is lost, further strong support is near the 70 integer mark. It is recommended that traders still focus on short-term pullbacks and lows. In the short-term, the upper focus on the resistance level of 76-76.5, and the bottom focus on the support level of 72-72.5.
Trading Recommendations
Trading Direction: Long
Entry Price: 72.500
Target Price: 80.000
Stop Loss: 68.500
Support: 72.600/70.000
Resistance: 76.500/80.000
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.
Quick Access to 7x24
Quick Access to More Editor-selected Real-time News
Exclusive video for free
Live Learn project team is dedicated to create exclusive videos
Real-time Quotes
View more faster market quotes
More comprehensive macro data and economic indicators
Members have access to entire historical data, guests can only view the last 4 years
Member-only Database
Comprehensive forex, commodity, and equity market data
English
English
العربية
繁體中文
简体中文
Bahasa Melayu
Bahasa Indonesia
ภาษาไทย
Tiếng Việt
Copyright © 2023 Live Learn Ltd
Economic Calendar 7x24 Quotes Video Analysis Data Warehouse Pro AI Signal News User Agreement Privacy Policy About Us
Risk Disclosure
The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.
Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.