U.S. Stocks
Fundamental Analysis:
U.S. stocks closed lower for the fourth straight session on Thursday, 3rd November 2022, as economic data barely change expectations that the Federal Reserve would continue to raise interest rates for longer than previously expected.
After the Fed’s statement, Chairman Jerome Powell said it was “far too early” to consider suspending interest rate hikes, which led to a decline in stocks and a rise in bond yields and the dollar, a pattern that continued into Thursday.
Economic data released on Thursday showed that the labor market continues to be strong, although another report showed that the service sector growth slowed in October, but the Fed is still on track to aggressively raise interest rates.
Climbing U.S. bond yields hit giant growth stocks, with Apple down 4.24% and Alphabet down 4.07%, also causing technology stocks and communication services stocks to bottom out today.
Boeing rose 6.34% and heavy equipment maker Caterpillar climbed 2.20%, which limited the Dow’s losses.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow focuses on the 32363-line today. If the Dow runs steadily above the 32363-line, it will pay attention to the suppression strength of the two positions of 32681 and 32975. If the Dow runs steadily below the 32363-line, it will pay attention to the support strength of the two positions of 31863 and 31566.
Hong Kong Stocks
Fundamental Analysis:
Hong Kong stocks continued to climb after the high opening, the Hang Seng Index (HSI) rose more than 4% during the day, back to 16,000 points.
As of 10:40, the Hang Seng Index (HSI) rose 4.43% to 16018.50 points, while the Hang Seng TECH Index (HSTECH) rose 5.93% to 3215.46 points.
On the market, domestic housing stocks and property management stocks higher, as of writing, Shimao Group Holdings Limited (0813.HK) rose more than 17%, Country Garden Services Holdings Company Limited (6098.HK) rose nearly 12%, Sunac Services Holdings Limited (1516.HK) rose about 10%, Longfor Group Holdings Limited (0960.HK) rose more than 9%, Country Garden Services Holdings Company Limited (6098.HK), and Yuexiu Property Company Limited (0123.HK) rose about 7%.
New energy car stocks rose sharply, XPeng Inc. (9868.HK) rose more than 16%, NIO Inc. (9866.HK) rose more than 12%, Li Auto Inc. (2015.HK) rose more than 10%.
Technical Analysis:
(HK50, 1-hour chart)
Execution Insight:
HK50 focuses on the 15136-line today. If HK50 can run stably above the 15136-line, then pay attention to the suppression strength of the 15995 and 16964 positions. If the HK50 runs below the 15136-line, then pay attention to the support strength of the 14309 and 13611 positions.
FTSE China A50 Index
Technical Analysis:
(FTSE China A50, 1-hour chart)
Execution Insight:
FTSE China A50 focuses on the 11665-line today. If the A50 runs steadily below the 11665-line, it will pay attention to the support strength of the two positions of 11447 and 11220. If the A50 runs above the 11665-line, it will open up further upward space. At that time, pay attention to the two positions of 11955 and 12336.
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