Chart of the day- CHNComp (15.08.2022)

Chinese equities took a hit during today's session, following another set of weak economic data. Industrial production and retail sales figures disappointed, which raised further concerns over a global economic slowdown. Meanwhile, the People's Bank of China (PBoC) unexpectedly cut a key policy interest rate for the first time since January to revive credit demand to support the COVID-hit economy. From technical point of view, upward correction was halted around 7190 pts and the index resumed slide and broke below the upward trendline. Index has later reached a short-term support in the 6,650 pts area. Should break lower occur, downward move towards the lower limit of the wedge formation (currently in the 6,000 pts area) may come next.

Source: xStation5

6 March 2026, 6:59 PM

Daily summary: Indices and crypto decline amid rising oil prices 🚩 Gold and the US dollar move higher

6 March 2026, 5:51 PM

Oil surges 11% amid escalating Middle-East conflict 📈VIX gains driven by fear on Wall Street

6 March 2026, 5:33 PM

BREAKING: Iran signals Europe will be 'a legitimate target' if EU joins war

6 March 2026, 4:17 PM

Wall Street tries to stop the deeper decline 🗽Marvell Technology jumps 10%

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