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Bull Monday on the cards with 7460 support | 7550 7610 resistance | Bulls gaining strength

#1 · 11th September 2023, 9:47 am

Technical analysis for FTSE 100 for 11th September 2023

Asia stock markets weakened on Monday as investors in China sold off shares in property developers, remaining unconvinced by authorities' efforts to revive activity in the mainland real estate market.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3%, after U.S. stocks ended the previous session with mild gains.

Australian shares reversed earlier losses to be up 0.12% and Japan's Nikkei stock index slid 0.19%.

In Hong Kong, the Hang Seng Index was down 1.4%, as investors retreated from China's troubled property sector. The Hang Seng Property Index, a gauge of Hong Kong's top developers, shed almost 4% while the mainland property index was off 3.24%.

In the United States, the Consumer Price Index (CPI) for August, due out on Wednesday, is expected to rise 0.6% month-on-month for August, which would take the year on year rate to 3.6%, according to a Wells Fargo research note.