A three-day drop for the Hang Seng Index has the benchmark testing a closely watched technical level: the 50-day moving average. It fell below that mark in April and July, but for no more than two days before staging a rebound. The 50-DMA is a critical indicator to watch and further selling is likely if the index fails to hold above it, said First Shanghai Securities strategist Linus Yip.
Source: Bloomberg Pro Terminal
Trader I. Ivanov
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