Asian markets are trading broadly lower as led by Hong Kong HSI, which is down nearly -1.6% at the time of writing. In a late move last week, the US administration published a nine-page Hong Kong Business Advisory, jointly by the departments of State, Treasury, Commerce and Homeland Security. The document warned US firms of encountering a number of risks posed by China’s national security law in the city.
Today’s gap down in HSI suggests that corrective rebound from 26861.87 could have completed at 28218.52 already. The failure to even touch 55 day EMA is a near term bearish sign. The index could at least have another test on 26782.61 key medium term resistance turned support. Such development to cap gains in other Asian markets, and give Yen additional support.
