U.S. Stocks
Fundamental Analysis:
U.S. stocks were closed for a day on 16th January 2023 for Martin Luther King Jr. Day.
Stocks rallied in the first two weeks of the year on optimism that cooling inflation will prompt the Federal Reserve to ease its most aggressive interest rate hike in decades.
The S&P 500 rose 2.7% for the week after government data showed consumer prices rose in December at the lowest rate in more than a year.
Communications services and non-essential consumer goods stocks were among the best performers in the S&P 500, with companies such as Warner Bros.
Discovery, Inc., United Airlines Holdings Inc. and Carnival Corp. were up more than 20%.
Meanwhile, investors’ growing appetite for risk amid hopes that the Federal Reserve will be less aggressive has boosted some of 2022’s worst performers, such as Amazon, which is up 17% in the first nine trading days of the year.
However, not all tech stocks are on board. Apple and Microsoft still trail the S&P 500.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow today pays attention to the 34221-line. If the Dow runs stably above the 34221-line, then pay attention to the suppression strength of the 34477 and 34724 positions.
Hong Kong Stocks
Fundamental Analysis:
Hong Kong stocks opened lower, the Hang Seng Index (HSI) fell more than 0.2%, the Hang Seng TECH Index (HSTECH) rose more than 0.2%.
On the market, sectors such as footwear, electronic components, and Apple concepts were among the largest gainers; sectors such as headline concepts, medical outsourcing concepts, and gold stocks were the largest decliners.
Alibaba Group Holding Limited (9988.HK), Meituan (3690.HK), Tencent Holdings Limited (0700.HK) rose slightly, Baidu, Inc. (9888.HK) fell nearly 2%, NetEase, Inc. (9999.HK), JD.com, Inc. (9618.HK) went lower.
Chinese medicine stocks fell significantly, China Traditional Chinese Medicine Holdings Co. (0570.HK) fell 3.66%.
Yesterday’s surge in biomedical stocks diverged, WuXi Biologics (Cayman) Inc. (2269.HK) fell nearly 3%, education stocks, aviation stocks, home appliances stocks, gambling stocks fell generally.
On the other hand, auto stocks, power stocks, sporting goods stocks, e-cigarette concept stocks generally rose, Xtep International Holdings Limited (1368.HK) rose more than 5%.
Technical Analysis:
(HK50, 1-hour chart)
Execution Insight:
HK50 pays attention to the 21450-line today. If HK50 can run stably above the 21450-line, then pay attention to the suppression strength at the two positions of 22127 and 22785.
FTSE China A50 Index
Technical Analysis:
(FTSE China A50, 1-hour chart)
Execution Insight:
FTSE China A50 pays attention to the 13887-line today. If A50 runs stably below the 13887-line, it will pay attention to the support strength of the 13653 and 13320 positions. If the A50 runs above the 13887-line, it will open up further upside space.
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