Dear readers, what is next for China stocks in Year 2020? Well, first let us look at the benchmark Shanghai Stock Exchange Composite Index. Shanghai Stock Exchange Composite Index closed the first trading week of 2020 at 3,083.79. Looking at the technical stocks chart of the Index, I note that the Index is now at a resistance line where the Index reached the same point at around 3,080 on 30 April 2019 before the index fell on 6 May 2019 by more than 5% due to reactions from Donald Trump’s trade tariff threats.
With the Shanghai Stock Exchange Composite Index now break the resistance with the targeted phase one signing of the trade deal between US and China on 15 January 2020? Well, I would think that it should be likely that China stocks should enjoy a fillip if not for the America’s strike on the Iranian General last week. Stocks markets are now more volatile than before and this could impact China stocks too.
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