INVESTMENT DAILY

类型：投资策略机构：凯基证券有限公司研究员：凯基证券研究所日期：2014-10-08

The Hang Seng Index is expected to trade at 22,800 to 23,200today

    Hong Kong stocks opened 241 points lower, once lost 368 points. However, buyinginterest seen in the afternoon session. The Hang Seng Index closed 132 points higherto 23,065. H-share index added 38 points to 10,349. Market turnover wasHK$96.2bn. PBOC release the mortgage policy, mainland property developer sawstrong rebounded, with CRS land (1109) jumped 5.0%. China stop group travellingvisa, HK retail plays soft, with Luk Fook (590) plunged 2.9%.

    U.S. stocks rally on strong jobs report, Dow and Nasdaq finished higher, up 208points and 45 points to 17,009 and 4,475 respectively. US dollar hit 12 week high,saw the highest of 86.69. However, commodities were soft, with international goldprice dropped US$8 to US$1,184 per ounce. Looking ahead, market are eyes on USFederal will report September meeting minutes, and major US corporations willannounce their 3rd quarter results. Besides, investors will also eyes on the US dollarmovement.

    Hong Kong stocks market corrected with Hong Kong protests continued. Hang Sengindex tested low. Despite retreated from high level, Hang Seng index may havetechnical rebound, however, we are concern the US interest rate increase to themovement of cash flow. We suggest investors to be caution.

    Technical Analysis

    Hang Seng Index gap opened lower and closed with hammer on last Friday,Technically, index regained 23,000, coupled with the MACD bearish gap narrowed,showing that momentum turning stable. Hang Seng index first support would be22,500, while next support would be seen at 22,000. For resistance, 250DMA(23,172) become the first resistance, while next resistance would be seen at100DMA (23,829).