U.S. Stocks
Fundamental Analysis:
U.S. stocks closed higher yesterday, with sharp intraday volatility. The dollar fell as the U.S. Treasuries moved hesitantly, a day after a bond market indicator showed concerns that the economy could be crushed by the Fed’s most aggressive rate hike cycle in 20 years.
During this interval, oil prices topped $100 per barrel, while the S&P 500 posted its biggest three-day gain since November 2020.
JPMorgan Chase has processed funds earmarked to pay interest due on Russian government dollar bonds and transferred the funds to Citigroup, according to foreign media reports, leading the stocks to rally after the news.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow focuses on the 33811-line today. If the Dow runs stably above the 33811-line, it will pay attention to the repression strength of the 34477 and 34724 positions. If the Dow breaks below the 33811-line, it will pay attention to the support strength of the 33390 and 32975 positions.
Hong Kong Stocks
Fundamental Analysis:
Overnight, Chinese stocks in the U.S. stock market fell, while large technology stocks in the Hong Kong stock market failed to continue the strong rebound, resulting in the Hang Seng TECH Index (HSTECH) opened 2.84% lower, the Hang Seng China Enterprises Index (HSCEI) fell 1.7%, the Hang Seng Index (HSI) fell 1.25%.
On the market, Hong Kong Chinese stocks fell in general, Bilibili Inc. (9626.HK) fell more than 10%, NetEase, Inc. (9999.HK) fell more than 7%, Meituan (3690.HK), Kuaishou Technology (1024.HK), Alibaba Group Holding Limited (9988.HK) fell more than 4%, Tencent Holdings Limited (0700.HK) fell more than 2%, all stopping 2 consecutive rallies.
Yesterday’s skyrocketing domestic housing stocks and property management stocks collectively lower, while home appliance stocks, major financial stocks (insurance, brokerage, banking), heavy machinery stocks, and gambling stocks generally fell.
On the other hand, biotechnology stocks are strong, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (2196.HK), Brii Biosciences Limited (2137.HK) rose more than 4%, while sporting goods stocks, oil stocks were in demand.
Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (2196.HK) rose over 4% and was licensed to produce generic versions of the Covid-19 oral drug Molnupiravir.
CLOVER BIO-B (2197.HK) opened 15% higher, the company’s Covid-19 vaccine candidate showed high and long-lasting protective efficacy and a strong immune response as a booster against the Omicron.
Technical Analysis:
(HK50, 1-hour chart)
Execution Insight:
HK50 Index focuses on the 20467-line today. If HK50 can run stably above the 20467-line, then pay attention to the suppression strength of 21450 and 22127. If HK50 runs below the 20467-line, then pay attention to the support strength of 19517 and 18606.
FTSE China A50 Index
Technical Analysis:
(FTSE China A50, 1-hour chart)
Execution Insight:
FTSE China A50 pays attention to the 13371-line today. If the A50 runs steadily above the 13371-line, then pay attention to the suppression strength of the 13983 and 14669 positions. If the A50 runs below the 13371-line, it will open up further downside. At that time, pay attention to the support of the 12791-line.
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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.
