Hang Seng Index Rally to Falter at 21,000: Technical Analysis

Hong Kong’s Hang Seng Index will struggle to extend gains beyond the 21,000 level amid declining market turnover and in the absence of any positive economic news, Fulbright Securities’ Francis Lun said. The gauge has risen through the 21,000 mark seven times since the start of August only to give back gains by day’s end or during the following day’s trade. The Hang Seng rose to as high as 21,322.55 yesterday before sliding in the final hour of trade to close at 21,069.56.

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