HSI fell sharply yesterday, the trade is estimated to be volatile

Tuesday, April 12, 2011, Hong Kong’s stock dropped sharply following the weakening of other Asian exchanges. The decline was spearheaded falling energy stocks and commodities due to rising levels of nuclear radiation in Japan to the maximum level. HSI fell by 326.7 points to 23,976.37 levels, a decline of about 1.34%, while transactions totaled at HK $ 82.36 billion.

The decline in Asian stocks was due to fears of falling demand due to increased levels of nuclear radiation in Japan. However, investors expected to approach with caution while waiting for China’s economic data releases this week. In addition, investors expect good news from the United States economic data reports that will be announced later tonight by FED. It seems the trend is still going to continue decreasing even though investors should be cautious on bargain hunting action. Continue to observe the movement of world oil prices and China‚Äôs stock markets.

Meanwhile, some analysts argue that HSI will be held at the 24,500 level in the short term. Meanwhile, the range for today, HSI will be expected to move between 23800-24200 levels. The trend these days the market is expected to move flat or neutral with a range of 200-300 points. According to market analysts, the HSI will find support at 23,500 level until the pecans are, while the resistance will be at level 24 700.

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