PBoC cut its 1 year and 5 year LPR again in an attempt to spur its credit markets.
As expected we saw a huge jump in HSI this morning. However, I think this rally might not be long lasting because of investors' sentiments. Based on the technicals, it seems to be in a downward channel as well. My take is that unless it breaks out 19860, it will probably reverse back down.
As expected we saw a huge jump in HSI this morning. However, I think this rally might not be long lasting because of investors' sentiments. Based on the technicals, it seems to be in a downward channel as well. My take is that unless it breaks out 19860, it will probably reverse back down.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.