U.S. Stocks
Fundamental Analysis:
The U.S. stock market’s S&P 500 and Nasdaq rallied on Thursday, 10th November 2022, posting their biggest one-day percentage gains in two-and-a-half years, as signs of slowing inflation in October sparked speculation that the Federal Reserve might become less aggressive in raising interest rates.
Stocks across the board surged as the latest consumer price data cheered investors worried that continued rate hikes could hamper the U.S. economy.
Data from the Labor Department showed that the Consumer Price Index (CPI) rose below 8% year-over-year for the first time in eight months.
All 11 sectors of the S&P 500 rose, led by information technology stocks, up 8.33%, followed by real estate stocks, up 7.74%.
The Philadelphia Semiconductor Index surged 10.2%, reducing its decline to about 32% in 2022.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow focuses on the 33811-line today. If the Dow runs steadily above the 33811-line, it will pay attention to the suppression strength of the two positions of 34221 and 34477. If the Dow runs steadily below the 33811-line, it will pay attention to the support strength of the two positions of 33233 and 32975.
Hong Kong Stocks
Fundamental Analysis:
Overnight, the surge in U.S. stocks led to a sharp rebound in Hong Kong stocks. The three major indices closed up collectively at noon.
The Hang Seng Index (HSI) rose 5.48% to hit 17,000 points at one point, the Hang Seng TECH Index (HSTECH) jumped 6.53%, and rose nearly 10% at the opening, while the Hang Seng China Enterprises Index (HSCEI) rose 5.59%.
The half day net southbound capital inflow was 2.999 billion Hong Kong dollars, the market turnover was 86.4 billion Hong Kong dollars.
On the market, the heavy technology stocks rebounded sharply. Bilibili Inc. (9626.HK) rose 13%, JD.com, Inc. (9618.HK) rose 10%, Meituan (3690.HK) rose 9%, Alibaba Group Holding Limited (9988.HK), Tencent Holdings Limited (0700.HK), and NetEase, Inc. (9999.HK) rose about 7%.
Longfor Group’s bond issuance of 20 billion yuan was quickly approved, and the domestic housing stocks higher, with Longfor Group Holdings Limited (0960.HK) jumped 24%.
Overnight, gold prices rose more than 2% to a new high of two and a half months, gold stocks rose sharply.
The Hong Kong’s vaccine pass will be relaxed next Thursday, and Hong Kong local stocks rose sharply.
Pharmaceutical outsourcing stocks led the rise again.
At the same time, building materials cement stocks, automotive stocks, domestic insurance stocks, auto dealership stocks, travel and tourism stocks and other multi-stocks rose sharply.
The market continued to rebound as the southbound capital inflow continuously increased its position, and the Hong Kong Stock Exchange rose nearly 9%.
Technical Analysis:
(HK50, 1-hour chart)
Execution Insight:
HK50 focuses on the 15995-line today. If HK50 can run stably above the 15995-line, then pay attention to the suppression strength of the 17535 and 18606 positions. If the HK50 runs below the 15995-line, then pay attention to the support strength of the 15136 and 14309 positions.
FTSE China A50 Index
Technical Analysis:
(FTSE China A50, 1-hour chart)
Execution Insight:
FTSE China A50 pays attention to the 11955-line today. If the A50 runs steadily below the 11955-line, pay attention to the support strength of the two positions of 11665 and 11447. If the A50 runs above the 11955-line, it will open up further upward space. At that time, pay attention to the two positions of 12336 and 12659.
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