After overnight Dow Jones closed up 164.84 @ 17721.25, today all Asian market ended in positive territory. Hong Kong market is the best performing market, surged 3.19 percent, Nikkei closed up 2.84 percent and Shanghai ended up 1.44 percent.
Hong Kong April futures market opened gap up 239 points in the morning. Lowest traded at 20691, market went highest reaching 21223 at the end of the trading day and finally settled at 21216, surged 746 points or 3.64 percent. Cash market finished at 21158.71, up 654.27.
In Malaysia, KLCI Index futures was traded between 1716.5-1724.5 (8.0). Futures closed up 7.5 points at 1721. Cash market gained 8.11 points settled at 1723.11.
Will market moves higher? Technically, Hang Seng Index broke crucial resistance- daily MA100-20557 and 21000. There is a chance market will move higher; with on and off profit taking comes in. Immediate resistance for HSI is at 21300, next 21500. On the downside, supports are 21080, next 20850.
KLCI Index still ranging between 1700-1725. This market need to break above 1730 to see a higher trading zone.
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