PT Equityworld predicted that the movement of the Hang Seng index will then be positive with an increase in the growth of the private sector in Hong Kong.
In technical Index Hang Seng will move in a range of Support 21,915-21,439, and range-22,902 23,421 Resistance.
In early trading Thursday the Hong Kong Stock Exchange (05/01), the Hang Seng index opened up, currently observable rising 254.11 points or 1.15 percent at 22388.58.
The movement of the Hang Seng index moved steadily increasing private sector business growth in Hong Kong. Nikkei Hong Kong Purchasing Managers Index rose to 50.3 in December from 49.5 in November, returns to the mode of expansion after 21 consecutive months of decline, according to the index provider Markit IHS said Thursday (05/01).
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The increase in December’s PMI is not driven by the expansion in production and new orders. Instead, the surge in the level of stock of pre-production, supported by an increase in the purchase of marked activity, encourage the reading of the indices, Markit noted IHS.
Business growth in Hong Kong’s private sector Rose After a 21-month Contraction increase in Hong Kong’s stock exchange is also still supported the increase of crude oil overnight.
Crude oil prices rebounded in late trade Thursday on Wednesday (05/01), supported investor optimism for OPEC producers will follow up trimming production planned starting this month.
The price of crude oil futures of West Texas Intermediate (WTI) US up $1.02, or 1.9%, to $53.31 per barrel.
The price of crude oil futures contract for March Brent rose US $1.0 or 1.8%, to $56.47 per barrel at 04:59 pm ET. On Tuesday, world oil benchmark had traded above $58 a barrel for the first time since the mid-2015.
The price of crude oil Rose 2 percent Production Cuts Helped Kuwait in early trading of stocks that rose were shares of China Shenhua Energy Co Ltd rose 4.37%, shares of PetroChina co. Ltd. climbed 4.19%, AAC Technologies Holdings Inc. climbed 3.08 percent, shares of China Petroleum Chemical Corp. rose & 2.90 percent, shares of Belle International Holdings Ltd. rose 2.73 percent.
Meanwhile, the movement of the Hang Seng futures index this morning tracked ride 305.00 1.38 points or percent at 22, 404.00, up from the previous closing trade at 22, 099.00.