China stocks climbed to the top of 8 months

China stocks climbed to the top of 8 months

Chinese stocks were closed at the highest level since June due to signals that progress has been made in trade negotiations between the US and China. Breaking the key resistance level also gave confidence. Shares have reduced profits in post-trading transactions with investors moving into profit.

The Shanghai Composite Index closed 1.1 percent on Monday's trading. The indicator index, which exceeds 3,000 points, increased its earnings in the intraday transactions by 3.2 percent. Seven shares rose against each stock in the index. Shanghai Composite Index, which rose 23 percent since January 3, was effective in the $ 1.5 trillion increase in the Chinese stock market.

The acceleration in the Chinese stock market has never been so strong since the summit of the 2015 bubble. In the Shanghai Composite Index, the RSI indicator is approaching the peak of that year. Almost all of the 1500 companies traded in the index are trading above their long-term moving averages.

Chen Weining, fund manager for Miyuan Investments in Beijing said, yön The market is freaked out. Technical levels point to the rise, but we have to make sure that we will not repeat the 5 mistakes.