U.S. Stocks
Fundamental Analysis:
Major U.S. stock indexes closed lower on Thursday, 9th February 2023 giving back earlier gains, as rising U.S. bond yields overshadowed strong earnings reports from heavyweights such as Disney and PepsiCo after a poor bid for 30-year U.S. debt.
With yields climbing, Treasuries became a reasonable alternative to stocks, and Wall Street’s three major stock indexes opened higher on Thursday after data showed that initial U.S. jobless claims rose by 13,000 to a seasonally adjusted 196,000 last week, above forecasts for 190,000.
The jobless data temporarily eased concerns about the Fed’s rate hike path after last week’s strong January jobs report stunned the market.
Google parent company Alphabet plunged 4.7%, extending the previous day’s decline and causing a drag on the S&P 500 and Nasdaq.
All 11 sectors of the S&P 500 were lost. Alphabet’s new chatbot provided inaccurate information Wednesday, raising concerns the company is losing ground to rival Microsoft.
Stocks had an encouraging start to the year on hopes the Federal Reserve would soften its hawkish stance and steer the economy to a soft landing, and the market expected the Fed to raise its target rate to a peak of 5.1% in July, largely in line with policymakers’ forecasts.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow pays attention to the 33584-line today. If the Dow runs stably above the 33584-line, then pay attention to the suppression strength of the 33949 and 34221 positions.
Hong Kong Stocks
Fundamental Analysis:
The three major indices of Hong Kong stocks opened lower, the Hang Seng Index (HSI) fell 0.3%, the Hang Seng China Enterprises Index (HSCEI) fell 0.57%, the Hang Seng TECH Index (HSTECH) fell 1.36%.
On the board, large technology stocks generally lower, JD.com, Inc. (9618.HK), Baidu, Inc. (9888.HK) fell more than 3%, Bilibili Inc. (9626.HK) fell more than 4%, Kuaishou Technology (1024.HK), Xiaomi Corporation (1810.HK), NetEase, Inc. (9999.HK), Alibaba Group Holding Limited (9988.HK) are down.
Auto stocks were generally lower, XPeng Inc. (9868.HK) fell 4%.
Most biopharmaceutical stocks retreated, and semiconductor stocks were lower, with Semiconductor Manufacturing International Corporation (0981.HK down 3.44% after the results.
On the other hand, hydrogen energy stocks rose, with China Risun Group Limited (1907.HK) opening 2.65% higher.
Sporting goods stocks were generally higher, with Bosideng International Holdings Limited (3998.HK) and Li Ning Company Limited (2331.HK) both gained.
Technical Analysis:
(HK50, 1-hour chart)
Execution Insight:
HK50 pays attention to the 22127-line today. If HK50 can run stably above the 22127-line, then pay attention to the suppression strength of the two positions of 22785 and 23294.
Risk Disclosure
Trading in financial instruments involves high risks due to the fluctuation in the value and prices of the underlying financial instruments. Due to the adverse and unpredictable market movements, large losses exceeding the investor’s initial investment could incur within a short period of time. The past performance of a financial instrument is not an indication of its future performance. Investments in certain services should be made on margin or leverage, where relatively small movements in trading prices may have a disproportionately large impact on the client’s investment and client should therefore be prepared to suffer significant losses when using such trading facilities.
Please make sure you read and fully understand the trading risks of the respective financial instrument before engaging in any transaction with Doo Prime’s trading platforms. You should seek independent professional advice if you do not understand any of the risks disclosed by us herein or any risk associated with the trade and investment of financial instruments. Please refer to Doo Prime’s Client Agreement and Risk Disclosure Statement to find out more.
[Disclaimer]
This information is addressed to the general public solely for information purposes and should not be taken as investment advice, recommendation, offer, or solicitation to buy or sell any financial instrument. The information displayed herein has been prepared without any reference or consideration to any particular recipient’s investment objectives or financial situation. Any references to the past performance of a financial instrument, index, or a packaged investment product shall not be taken as a reliable indicator of its future performance. Doo Prime and its holding company, affiliates, subsidiaries, associated companies, partners and their respective employees, as well as managers, make no representation or warranties to the information displayed and Doo Prime and its holding company, affiliates, subsidiaries, associated companies, partners and their respective employees, as well as managers, shall not be liable for any direct, indirect, special or consequential loss or damages incurred a result of any inaccuracies or incompleteness of the information provided. Doo Prime and its holding company, affiliates, subsidiaries, associated companies, partners and their respective employees, as well as managers, shall not be liable for any direct, indirect, special or consequential loss or damages incurred as a result of any direct or indirect trading risks, profit, or loss arising from any individual’s or client’s investment.
