(VIANEWS) – HANG SENG INDEX (HSI) is currently on bearish momentum. At 23:08 EST on Tuesday, 20 September, HANG SENG INDEX (HSI) is at 18,545.84, 5.65% down since the last session’s close.

Why is HANG SENG INDEX Index Going Down?

If you’re wondering why the Hang Seng Index has fallen, there’s a good reason for it. Chinese tech stocks are hiting a six-year low, and this week, the Hang Seng Tech Index is down 12%. Some Chinese firms are also worried about being perceived as helping Russia in the Ukraine, which has also hurt their stock prices.

The Hang Seng Index is a market capitalization-weighted index of forty of the largest companies in Hong Kong. It is published by the Hang Seng Indexes Company, a wholly owned subsidiary of the Hang Seng Bank. This index is a leading indicator of the stock market in Hong Kong, and covers around 65% of the entire market capitalization. The index includes four sub-indices, which are based on companies’ main lines of business.

Last week, Chinese stock markets plunged after regulators named five companies to delist. That sparked an intense selloff in shares of these companies.

HANG SENG INDEX Range

Concerning HANG SENG INDEX’s daily highs and lows, it’s 0.28% up from its trailing 30 days low of $18,494.50 and 8.12% down from its trailing 30 days high of $20,185.20.

About HANG SENG INDEX’s yearly highs and lows, it’s 1.7% up from its 52-week low and 29.31% down from its 52-week high.

Volatility

HANG SENG INDEX’s last week, last month’s, and last quarter’s current intraday variation average was a negative 1.37%, a negative 0.25%, and a positive 1.12%, respectively.

HANG SENG INDEX’s highest amplitude of average volatility was 1.37% (last week), 1.04% (last month), and 1.12% (last quarter), respectively.

Index Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, HANG SENG INDEX’s is considered to be overbought (>=80).

News about S&P 500

  • According to MarketWatch on Monday, 19 September, “Shares rose 3% premarket, but have fallen 9% in the year to date, while the S&P 500 has fallen 19%.”
  • According to FXStreet on Monday, 19 September, “Amid these plays, the S&P 500 Futures print mild losses while tracking Wall Street’s Friday close. “
  • According to FXStreet on Monday, 19 September, “Against this backdrop, the S&P 500 Futures print mild losses while tracking Wall Street’s Friday close. “
  • According to FXStreet on Monday, 19 September, “Since early November 2021, Tesla (TSLA) had a buying climax followed by a topping formation, similar to the S&P 500 futures (ES). “, “The most recent sharp pullback reacting to the CPI data on 13 Sep 2022 caused S&P 500 dipped to a lower low and broke below 3900 while TSLA was holding up the gain and hovering below the immediate resistance at 313 as annotated in the above chart (in orange line). “
  • According to FXStreet on Monday, 19 September, “There is a very great chance the S&P 500 (NYSEARCA: SPY) could fall another 25% or more but the news is not bad for all stocks. “

More news about HANG SENG INDEX (HSI).

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