Dow and Nikkei 225 struggle but Hang Seng continues to rally
While US indices and the Nikkei 225 continue to struggle, the Hang Seng is enjoying further gains.
Dow bounce stalls
The past two days have seen substantial Dow Jones buying going on at the lows. In this case, 42,500 appears to be the line in the sand for the time being.
A close back above 43,000 would help to support a more short-term bullish view. Sellers will need a close back below 42,500 to suggest that they have been able to reassert control.
Nikkei 225 bounces from multi-month low
The Nikkei 225 index rebounded impressively from the lows of Tuesday, when it was some 1200 points lower.
While it gained on Wednesday, it has stalled overnight, and a failure to reclaim 38,000 would maintain the short-term bearish view.
Hang Seng at new five-month high
A fresh three-year high was seen in early trading this morning, as the Hang Seng index shrugged off the weakness from earlier in the week.
The imposition of US tariffs has not been able to dent the rally for any sustained period, while inflows from Chinese funds have helped support the gains. The impressive move shows no sign of slowing, and the next target is 25,160, the highs from February 2022.
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