Hang Seng Index Futures Breaching The 23,000-Pt Support; Bears In Control

Quick Summary:

RHB Investment Bank (RHB) has adopted a negative outlook on the Hang Seng Index Futures (HSIF) following a decisive breach of the 23,000-point support level, which signals growing bearish momentum.  On Thursday, the index opened at 23,206 points, briefly reached an intraday high of 23,261 points, and faced substantial selling pressure.

A close below the 50-day SMA could accelerate further downside, potentially leading to a correction towards the 22,000-pt level.

The recent price action indicates a clear shift in sentiment, further supported by the RSI trending downwards.

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Article Details

Author / Journalist: Carrine Yem

Category: InvestingBusiness

Markets: Malaysia

Topics: Markets Hkex Hsif Hang Seng Index

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-07 @ 00:52:48 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: businesstoday.com.my

Language: English

Article Length: 290 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Business Today

News ID: 27640309

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