Hong Kong Market Overview

Hong Kong stocks ended 0.62 per cent lower Wednesday, reversing earlier gains, as profit-takers cashed in after the market hit a six-year high at the start of the week. 

Hang Seng Index eased 155.75 points to 24,918.75 on turnover of HK$67.56 billion (US$8.72 billion)

Hong Kong stock market maintained its upward momentum and Hang Seng index saw the year high of 25,243, however the MACDs appeared bearish gap again, showing that momentum was still weak. 

The Hang Seng Index is expected to trade at 25,000 to 25,500. Hang Seng index first support would be 15DMA (24,985), while next support would be 24,000. For resistance, year high of 25,243 become first resistance, while next resistance would be seen at 25,500.