Dow and DAX hit new highs while Hang Seng lifted by easing measures
The Dow and DAX have both made fresh gains, while the Hang Seng has surged after China announced new policy measures to boost the economy.
Dow pushes to new highs
The Dow Jones index sits at a new record high, maintaining its bounce from the 50-day simple moving average (SMA).
It has seen nearly a straight-line move from early September, with a series of higher highs and lows over that time. As yet there is little sign of any weakness, though a close below the late August high at 41,600 would perhaps mark the beginning of a drop towards the 50-day SMA.
DAX holds at record highs
The DAX 40 index is back at record highs, and looks poised for a fresh push to new highs above 19,000.
Having shrugged off the drop on Friday the index has resumed its move higher. It would need a reversal back below 18,720 to suggest that the sellers have regained control.
Hang Seng soars as China announces stimulus
Fresh stimulus measures have been announced by the People’s Bank of China (PBoC), and these have helped the Hang Seng index to rally 4%.
In the space of two weeks, the index has rallied nearly 2000 points, reaching its highest level since late May. It now sits just below trendline resistance from the January 2023 highs.
Further gains target 19,122, and then beyond this lies the May peak around 19,800.
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