Death Cross.

Hang  Seng  Update.

The Hang Seng Index tumbled 18 percent from its seven-year high on April 28 through Tuesday’s close amid a $4 trillion rout in mainland Chinese markets. The Shanghai Composite Index lost almost a third of its value after peaking in mid-June.

The benchmark gauge for mainland shares is set to close below its 200-day moving average for the first time in a year, which some traders view as a bearish signal. The index has bounced off that level three times during the past six weeks.

While declines in the Hong Kong gauge tend to deepen after a death cross, the subsequent moves aren’t always straight down. The Hang Seng Index gained an average 2.4 percent in three months after the pattern formed during the past decade. Over six months, it rose 1.8 percent.

Source : Bloomberg Markets.

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