The Hang Seng Index rose by about 0.3% while hitting the daily EMA50, targeting the Quarter’s VWAP and swing highs back from September. The index is about to test the upper distribution as well.

The market trades above the Quarter’s value with a bullish momentum for now.

China’s industrial production grew by 3.1% YoY, lower than forecasted which might pressure the currency yuan. GDP Growth Rate slowed to 4.9% from 5.1% while the retail sales were higher than the forecast with 4.4% as 2.3% was expected. Mixed signs might be giving the market a rotational behavior.