The Lion-OCBC Securities HSTECH ETF mirrors the movement of the Hang Seng Tech Index. The ETF ended the week at 86.4 cents on Feb 7, short of the one-year closing high of 87.9 cents on Oct 7, 2024.
Although the Hang Seng Tech Index is near its one-year high of 5,386 (its close on Feb 7 was 5,150), it is way below the high of 10,945 attained in February 2021.
The Index’s short-term indicators are not far off the high end of their range. These short-term indicators could stay in overbought territory for a couple of weeks before a consolidation sets in.
