HSI Have Best Advance in Over a Month on Trade Optimism

HK stock markets rallied on Friday after Trump said China and the US reached the first phase of a substantial trade deal that delays tariff hikes that were set to kick in next week. We saw strong support for HSI futures near 25600 level as market was optimistic on a partial US-China trade deal and the new QE of the Fed. When price broke major resistance at 26200, momentum gained and short covering orders pushed the price back to 26600 level.