Premier
Li Keqiang mentioned in the government work report that the
Shenzhen-Hong Kong Stock Connect will be launched in due course.
Meanwhile, the chairman of China Securities Regulatory Commission (CSRS)
Xiao Gang expected the Stock Connect to be approved in the first half
of 2015. CSRC will hold a press conference announcing the details of
SZ-HK Stock Connect in Beijing on Sunday, Nanfang Daily reported,
quoting the response from Shenzhen Stock Exchange. An in-depth
explanation on the above work progress will be given by that time.
Shanghai Pechem (00338.HK) Trading Sell Last price: HK$2.43 Resistance: HK$2.60 Support: HK$2.27/2.13 Shanghai Pechem closed lower at HK$2.43 in a long dark candle yesterday, short of the 0.38x retracement level at HK$2.41. Given that the Slow Stochastics has breached the previous low and the MACD is under the centreline, the stock is likely to test the 0.5x retracement level at HK$2.27. If the stock breaches this support, it will then test the 0.62x retracement level of HK$2.13. Expected Timeframe: 2 weeks to 2 months Wisdom Group (01661.HK) Trading Sell Last price: HK$5.47 Resistance: HK$5.65 Support: HK$5.22/4.96 Wisdom Group gapped down to re-enter the moving average envelope yesterday on strong volume. With reference to the downside bias of both the Williams’ %R Indicator and the ROC, we expect the stock to test the moving average of the envelope at HK$5.22. If the stock crosses below the moving average of the ...
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