---
title: "The Hang Seng Index broke through 19000, what's the next step? (May 13, 2024)"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/21050271.md"
description: "$Hang Seng Index(00HSI.HK) Prologue: After consolidating for five trading days, the Hong Kong stock market broke through the sideways range last Friday and surpassed the 19,000-point mark today... The Hong Kong stock market$Hang Seng Index(00HSI.HK) opened lower by over 50 points this morning and even fell by more than 100 points at one point. However, support quickly emerged. The market turned from a decline to a rise within an hour after opening. It then surged past 19,000 points, heading straight for 19,100. For most of the second half of the session, it fluctuated between 19,000 and 19,100..."
datetime: "2024-05-13T15:36:44.000Z"
locales:
  - [en](https://longbridge.com/en/topics/21050271.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/21050271.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/21050271.md)
author: "[玩輪員孖八](https://longbridge.com/en/profiles/9944953.md)"
---

# The Hang Seng Index broke through 19000, what's the next step? (May 13, 2024)

$Hang Seng Index(00HSI.HK) Foreword: After consolidating for five trading days, the Hang Seng Index broke through the sideways range last Friday and surpassed the 19,000-point mark today...

> ## Hong Kong Market Update

$Hang Seng Index(00HSI.HK) opened slightly lower this morning, dropping more than 50 points at one point and even falling over 100 points. However, buying support quickly emerged. The market turned from loss to gain within an hour of opening and later surged past 19,000 points, aiming for 19,100. In the afternoon, it mostly fluctuated between 19,000 and 19,100, closing at 19,115 points, up 151 points. Half-day turnover reached HKD 147.2 billion.

> ## Strategy

$Hang Seng Index(00HSI.HK) completed its consolidation last week, so today's rally was expected. Based on previous measurements, the resistance level for the Hang Seng Index should be near 19,500. If it breaks through, there’s a chance to challenge the 20,000-point mark. However, the higher it climbs, the greater the risk. Therefore, once $Hang Seng Index(00HSI.HK) surpasses 19,500, I’d recommend taking partial profits to secure gains.

Last week’s strongest blue-chip stock, $HKEX(00388.HK), took a breather today, dipping slightly by less than 1%. Meanwhile, today’s top performer was $BABA-W(09988.HK), which rose 4% and broke through the $80 mark ahead of its quarterly earnings release. Can Alibaba shake off its slump and push its stock price to $90 with strong earnings? I’m cautiously optimistic.

Among the second- and third-tier stocks I mentioned earlier, $WEIMOB INC(02013.HK) surged nearly 6% today. I believe Weimob has a chance to retest the $2 level in this rally.

Good luck to all.

(The views expressed here are solely my own. The investment strategies provided may not suit everyone and should not be construed as an invitation or intent to buy or sell any financial product. Stock prices can rise or fall and may become worthless. Trading securities does not guarantee profits and may result in losses. Investors and clients should exercise caution and consider this as one of many factors in their investment decisions.)

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