Starting from Jan 2017, Hang Seng Index(HSI) has been on the upper trend and have almost no fallback. On 16 Oct 2017, HSI was successful above the highest record in 2015, 28600 points, and attempted to reach to 30000 points. At that time, I believed that the probability that HSI reached 30000 or even 32000 points is really high and so I almost use all the remaining cash to buy 7200.HK, which is an ETF doubling the performance of HSI on a daily basis. Unfortunately, the result is not what I expected before. HSI then dropped to below 28600 and I lost during the fall.
Despite weak performance of HSI in late Oct 2017, the performance of US markets is excellent and it continues breaking record high due to the positive perspectives among investors regarding the tax reduction plan formulated by Donald Trump and his team.
In addition to US stock markets, Chinese stock markets attempt to undergo its first upped trend to reach 3500 points after the market crash in 2015. With reference to the performance of HSI in 2017, SHA should also reach at least 3600 or even 4000 if more investors get involved in the market and become more irrational.
Given all the major stock markets are still moving within the upper trend, I decided to keep every stock of 7200.HK and wait until HSI hit 30000.
Last Friday, due to the huge subscription amount of IPhone X, Nasdaq Index closed at about 6700 points, which increased 2% compared to the previous trading day. It is believed that HSI will reach 29000 in next week and 30000 within 2017. Let us sit tight and be ready to enjoy the happiness that HSI 30000 brings to us.
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