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：2015-03-02

The Hang Seng Index is expected to trade at 24,500 to 24,900today.

    Thanks to strong performance of US market, Hong Kong market opened 34 pointshigher on Monday, followed by narrow trading. Hang SEng index added 43 points to24,726. H-share index gained 12 points to 11,934. Market turnover was onlyHK$51.2bn. For individual play, BYD (1211) may dispose electric parts business,share price jumped 11%. Besides, medical play of A share strong, local medicalplays follow, with CMS (867) gained 4%.

    US stock market closed on Monday. Greece remained in the spotlight as Eurogroupfinance ministers met in Brussels to discuss the new Greek government’s demand tochange the terms of its bailout program. Investors are cautious ahead of the meeting.

    The Germany Dax index and UK FTSE Index dropped 0.4% and 0.2% respectivelyon Monday. Besides, after stock market close, Greece and Eurozone cannot reach anagreement, Euro fell to 1.133 US Dollar.

    Investors are speculated that mainland easing monetary policy will benefit the HangSeng Index short term trend. However, given CNY holiday sentiment, as well asuncertainty on Greece issue, we expect local market to remain cautious, initialresistance for Hang Seng index remained at 25,000.

    Technical Analysis.

    Hang Seng Index closed with cross star on Monday. Technically, Hang Seng Indexclosed at above 10DMA (24,587) and 20DMA (24,586), coupled with MACDbearish gap narrowed, showing that momentum turned stable. Hang Seng index firstsupport would be 20DMA (24,586), while next support would 24,000. For resistance,25,000 would become the first resistance, while next resistance would be seen at25,363.