Cling Seng Index Information: EV and Tech Losses Drag Markets Amid Commerce Uncertainty…

Cling Seng Technical Outlook

• Resistance: 26,000, then 27,000.
• Assist: 25,000, 24,500, and the 50-day EMA (24,166).
• The short-term bias stays bullish however hinges on progress towards a US-China commerce deal and recent coverage alerts from Beijing.

Cling Seng Forecast: Will the Index Break Above 26,000 or Drop to 25,000?

The Cling Seng Index pulled again from Thursday’s three-and-a-half-year excessive in morning buying and selling. Uncertainty a couple of US-China commerce deal tempered demand for Hong Kong-listed shares.

Issues about China accepting and sticking to an imbalanced commerce deal, doubtlessly together with zero tariffs on US items and US levies on Chinese language shipments, weighed on threat belongings. US tariffs on Chinese language items might affect China’s commerce phrases and Beijing’s 5% GDP progress goal for 2025.

Beijing’s coverage assist may very well be essential if talks fail to ship a framework for a commerce settlement.

Financial uncertainty could drag the Cling Seng Index towards 25,000, exposing sub-25,000 assist ranges. Nonetheless, hints of a good commerce settlement, with decrease US tariffs on China, might drive the Index towards 26,000.

Close to-term developments will hinge on commerce developments, key Chinese language financial information, and Beijing’s coverage pledges.

In June, China’s NBS Manufacturing PMI elevated to 49.7, up from Might’s 49.5, whereas the Non-Manufacturing PMI rose from 50.three in Might to 50.5. US tariffs impacted exterior demand and new export orders, weighing on the manufacturing sector.

Keep knowledgeable with real-time updates. Geopolitical dangers and US-China developments proceed to drive sentiment. Comply with our dwell protection and seek the advice of our financial calendar.