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On January 29th, major Hong Kong stock indices showed mixed performance. The Hang Seng Index fluctuated narrowly throughout the day, briefly breaking through the 28,000-point mark before retreating slightly. At the close, the Hang Seng Index rose 0.51%, while the Hang Seng Tech Index fell 1%. Total turnover for the Hang Seng Index reached HK$331.994 billion. In terms of sectors and individual stocks, the real estate sector led the gains, with China Aoyuan (03883.HK) rising 32.88%, Sunac China (01918.HK) rising over 29%, Shimao Group (00813.HK) rising over 23%, Country Garden (02007.HK) rising over 16%, and Vanke (02202.HK) rising over 8%. In addition, most insurance stocks rose today, with Ping An Insurance (02318.HK) and New China Life Insurance (01336.HK) rising over 3%. The semiconductor sector retreated today, with Hua Hong Semiconductor (01347.HK) falling more than 5% and SMIC (00981.HK) falling more than 2%.The Hang Seng Index closed up 141.18 points, or 0.51%, at 27,968.09 on Thursday, January 29; the Hang Seng Tech Index closed down 59.06 points, or 1.0%, at 5,841.1; the H-share Index closed up 40.34 points, or 0.42%, at 9,552.58; and the Red Chip Index closed up 75.87 points, or 1.73%, at 4,470.01.Hong Kong stocks closed higher, with the Hang Seng Index rising 0.51% and the Hang Seng Tech Index falling 1%. Property stocks were strong today, with China Aoyuan (03883.HK) surging over 30%, and Sunac China (01918.HK), R&F Properties (02777.HK), and Shimao Group (00813.HK) all rising over 20%.The National Highway Traffic Safety Administration (NHTSA) has recalled 41,651 Hyundai Motor America vehicles in the United States because improper deployment of side curtain airbags in a collision could increase the risk of injury.On January 29th, Jiumuwang announced that it expects to achieve a net profit attributable to shareholders of the listed company of 270 million to 324 million yuan in 2025, an increase of 93.79 million to 148 million yuan compared with the same period last year, representing a year-on-year growth of 54% to 84%. During the reporting period, affected by fluctuations in the secondary market, the fair value change gains and losses of the companys financial assets are expected to be 80 million to 90 million yuan, compared with a loss of 58.555 million yuan in the same period last year. The fair value change gains during the reporting period increased by approximately 140 million yuan compared with the same period last year.

NZD/USD Price Analysis: Protects NZ Inflation-Induced Support Break; 0.6140 in Sight

Daniel Rogers

Apr 20, 2023 13:51

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During the mid-Asian session on Thursday, NZD/USD bears maintain control at the lowest levels in five weeks while defending New Zealand (NZ) losses caused by inflation near 0.6160. This justifies not only the weaker-than-anticipated New Zealand inflation, but also the recent break of one-month-old horizontal support, which is now immediate resistance, as well as the bearish MACD signals.

 

As measured by the Consumer Price Index (CPI), the Reserve Bank of New Zealand (RBNZ) policy purists were unpleasantly surprised by New Zealand's (NZ) first-quarter (Q1) inflation. Despite this, the Quarter-over-Quarter change in the New Zealand Consumer Price Index (CPI) decreases from 1.7% and 1.4%, respectively, to 1.2%.

 

Following the publication of disappointing data, the NZD/USD pair breached a one-month-old horizontal support level, which is now acting as a barrier near 0.6170. The bearish MACD signals are now directing NZD/USD traders toward a horizontal support level that has been in place for 1.5 months and is located near 0.6140.

 

If the NZD/USD bears remain dominant above 0.6140, the 2023 low of 0.6085 cannot be ruled out.

 

The 200-day simple moving average hurdle of 0.6220 becomes crucial for NZD/USD investors to return.

 

If the NZD/USD pair remains above 0.6220, a run up to the previous weekly high around 0.6315 and then to the monthly high of 0.6386 cannot be ruled out.