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Asia ticks up | Rise and Dip for the FTSE100 | 7461 7480 7500 resistance | 7389 support

#1 · 29th August 2023, 10:19 am

FTSE 100 technical analysis for 29th August 2023

China stocks led Asian shares higher on Tuesday with investors welcoming Beijing's efforts at supporting markets, while bonds rallied and the dollar dipped on possibly softening U.S. data.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1%, with the Hang Seng (.HSI) in Hong Kong up more than 2% and mainland China blue chips up 1.5%.

China has halved stock trading stamp duty, loosened margin loan rules, put the brakes on new listings and approved new retail funds in recent days -- signalling, at least, resolve to steady the market even if it does little to support the sputtering economy.