HSI Hong Kong Hang Seng Index Weekly Chart; Teasing One-Decade Highs to Begin the New Year

Chinese stocks rally strong overnight as the PBOC gooses the economy with a temporary triple R cut (reserve requirement ratio). This allows the banks to lend more to help spur the economy. China also extends property tax deadlines. The mainland's Shanghai Index, SSEC, and Hong Kong's Hang Seng Index, HSI, catapult higher.

The HSI is at one-decade highs teasing the levels from October 2007 when global stock markets were topping out. The US stock market peaked in early October 2007 and the Hang Seng peaked three weeks after. Of course the 2008-2009 financial crisis quickly followed. The banks fell apart in early 2008.

The HSI is a great gauge for Asia this year. The all-time record high is 31958.41 and all-time closing high is 31638.22 both from 10/30/07. Watch for HSI 31960.

If the HSI moves above 31960, the stocks in the Pacific theater will rock 'n roll higher this year with bullish cheers of euphoric joy. If the HSI does not overtake the record highs, Asia stocks will take on an illness and become sicker as the year plays out. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.