The ASX found resistance at the long term level from back in 2008. This was compounded by the fact that the RBA left the official interest rate on hold citing that the rate cuts were not having the 'desired effect'. China had to cut the official rate for the second time in three months on continuing slowdown of growth.
China A50 weekly chart ended the week on support after forming a lower high.
The Hang Seng daily chart ended the week with a bearish kumo breakout.
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