China Stocks are About to Jump

China Stocks are About to Jump

It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.

Events to follow

BOC Rate Statement, 18:00 GMT+2

BOC Overnight Rate, 18:00 GMT+2

Chinese protests and HK50

Chinese imports and export plummeted due to Covid-19 restrictions. The current trade activity is the lowest since 2020, with a 10.6% year-on-year decrease in imports and an 8.7% decrease in export. Also, because of protests across the country, Chinese President Xi said the Omicron variant is less dangerous, giving hopes for further relief in lockdowns.

As for the primary gauge of the Chinese economy, the HK50 index, it’s moving under the critical trendline and 200-daily MA. As strict measures loosen, we will likely see a breakout and a bullish wave over the following weeks. On the other hand, a further tightening of the Covid—19 policy would mean the HK50 plunge to 17 000.

 HK50Daily.png

Other news you should know 

  • Australian quarterly GDP turned out to be lower than expected (0.6% actual vs. 0.7% forecast).
  • The US housing market collapsed by 30% year-on-year, which makes this correction the harshest since 2008. The monthly drop of -2.3% in Great Britain is the largest seen since October 2008, too.
  • Microsoft and Nintendo agreed to a 10-year deal to bring Call of Duty to Nintendo gaming platforms. However, the agreement depends on Microsoft closing its $69 billion acquisition of Activision Blizzard.
  • Binance exchange entered the Japanese market again after it was forced to leave a year ago.

Visit our Telegram channel to get more trade ideas, and good luck in trading!

Similar

Inflation Risks Return To The Markets
Inflation Risks Return To The Markets

Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!

Latest news

News for The Week
News for The Week

US stock markets started falling, while the US dollar is rising. What to expect from

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera