| The above graph shows line chart of Shanghai Stock Exchange Composite Index from30th Oct 2014 to till now.Shanghai Stock Exchange Composite Index declined in last two days but it is still hovering from all time high. Currently, the Index is trading at 4749, 17.25% high from last one month and 119% high from last one year same duration. SSECI gained despite soft economic data from China; market is finding good support from People bank of China monetary stimulus program. Further market expects China to come with additional stimulus which can continue the rally across the stocks. China, the HSBC flash manufacturing PMI fell to 49.2 in April against expectation of 49.5 and previous month of 49.6. However, China\\`s consumer inflation accelerated in February but producer prices remained entrenched in deflation, signaling a favorable environment for further stimulus from the government but producer price index (PPI) fell last month due to sliding prices for global commodities, particular energy, which have undermined profitability at Chinas industrial heavyweights. Technically, the Index is looking very strong on current levels. MACD and Moving averages are indicating up trend. If prices breach the previous high of 4527 ( high on 26th April), it can take further rally. On the side, we cant ignore correction but we need some more technical indication for making strong view. |
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