U.S. Stocks
Fundamental Analysis:
U.S. stocks closed sharply lower yesterday, 26th April 2022, with the Nasdaq closing at its lowest level since December 2020, as investors worried about slowing global economic growth and a more aggressive Federal Reserve.
Electric car maker, Tesla plunged 12% as investors worried that its chief executive Elon Musk might sell some of his shares to finance the $44 billion acquisition of Twitter, announced Monday (25th April 2022).
During this interval, Tesla was the stock that caused the biggest drag on the S&P 500 and Nasdaq indexes. The technology-dominated Nasdaq posted its biggest one-day drop since September 2008 and is now down 22% from its record high set in November.
Also, previously highly sought-after growth stocks have been hit hard in recent weeks, with investors worried about the impact of rising interest rates on their future earnings.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow focuses on the 33233-line today. If the Dow runs stably above the 33233-line, it will pay attention to the repression strength of the 33584 and 34088 positions. If the Dow index breaks below the 33233-line, it will pay attention to the support strength of the 32975 and 32455 positions.
Hong Kong Stocks
Fundamental Analysis:
U.S. stocks plunged overnight, with the three major indices of Hong Kong stocks opened collectively lower. The Hang Seng Index (HSI) fell 1.06%, the Hang Seng China Enterprises Index (HSCEI) fell 0.97%, the Hang Seng TECH Index (HSTECH) fell 1.27%.
On the market, large technology generally fell stocks fell, Kuaishou Technology (1024.HK) fell more than 2%, while Baidu, Inc. (9888.HK), NetEase, Inc. (9999.HK), and Tencent Holdings Limited (0700.HK) fell more than 1%.
JD.com, Inc. (9618.HK) rose slightly, while domestic banking stocks continue to fall, with China Merchants Bank Co., Ltd. (3968.HK) falling more than 3%, and continued to hit new lows.
Restaurant stocks, sporting goods stocks, domestic insurance stocks, gas stocks, auto stocks, home appliances stocks have been lower, while most of the pharmaceutical stocks fell, with Fosun Pharmaceutical (Group) Co., Ltd. (2196.HK), and Akeso, Inc. (9926.HK) are down more than 5%.
On the other hand, with favorable policies, infrastructure stocks opened well, with China Railway Group Limited (0390.HK) rose more than 4%, while China Railway Construction Corporation Limited (1186.HK) and China National Building Material Company Limited (3323.HK) both rose.
During this interval, New Oriental Education & Technology Group Inc. (9901.HK) fell nearly 6%, Li Auto Inc. (2015.HK) fell more than 5%, XPeng Inc. (9868.HK), while Zai Lab Limited (9688.HK), and HUTCHMED (China) Limited (0013.HK) fell more than 4%. NIO Inc. (9866.HK) fell nearly 4%, while GDS Holdings Limited (9698.HK), and BeiGene, Ltd. (6160.HK) fell nearly 3%.
Technical Analysis:
(HK50, 1-hour chart)
Execution Insight:
HK50 focuses on the 19517-line today. If HK50 can run stably above the 19517-line, then pay attention to the suppression strength of the 20467 and 21450 positions. If the HK50 runs below the 19517-line, then pay attention to the support of the 18606-line.
FTSE China A50 Index
Technical Analysis:
(FTSE China A50, 1-hour chart)
Execution Insight:
FTSE China A50 pays attention to the 12733-line today. If the A50 runs steadily above the 12733-line, then pay attention to the suppression strength of the 13157 and 13496 positions. If the A50 runs below the 12733-line, it will open up further downside. At that time, pay attention to the support of the 12328-line.
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Please make sure you read and fully understand the trading risks of the respective financial instrument before engaging in any transaction with us. You should seek independent professional advice if you do not understand the risks disclosed by us herein.
Disclaimer
While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.
