Overbought Hang Seng May Correct To The Downside
From Nasdaq MarketSite: 2025-02-16 20:16:15
The Hong Kong stock market saw alternating finishes in the past four days after a three-day winning streak, with the Hang Seng Index now just above 22,620 points. Global markets are forecasted to be flat to lower, with energy stocks leading the decline. On Friday, the Hang Seng soared 3.69 percent, with strong support in all sectors, especially technology. Major U.S. averages closed mixed and little changed on Friday, with the NASDAQ up 2.6 percent for the week. Oil prices fell slightly on Friday amid easing supply concerns and hopes for a peace deal between Russia and Ukraine.
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