U.S. Stocks
Fundamental Analysis:
U.S. stocks rallied sharply on Monday, 17th October 2022, after Britain staged a major reversal of an economic plan, while Bank of America became the latest financial firm to report solid quarterly results, boosting optimism for the corporate earnings season.
Goldman Sachs rose 2.24% after reports that the firm plans to merge its investment banking and trading businesses. Goldman Sachs is due to report results on Tuesday.
Growth giants such as Apple, Amazon and Tesla all rose, helping lift the S&P 500 growth stock index to climb 3.42%, its biggest one-day percentage gain since 27th July 2022.
Tesla, Netflix and Johnson & Johnson are among the companies expected to report results later in the week.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow focuses on the 30416-line today. If the Dow runs steadily above the 30416-line, it will pay attention to the suppression strength of the 31000 and 31265 positions. If the Dow runs steadily below the 30416-line, it will pay attention to the support strength of the 30044 and 29620 positions.
Hong Kong Stocks
Fundamental Analysis:
Overnight, U.S. stocks rose sharply, and Chinese stocks rebounded strongly.
Hong Kong stocks opened higher, the Hang Seng Index (HSI) rose 1.49%, the Hang Seng China Enterprises Index (HSCEI) rose 1.44%, the Hang Seng TECH Index (HSTECH) rose 2.06%.
On the market, the heavyweight technology stocks rose collectively, ALIBABA (1688.HK), Meituan (3690.HK), Kuaishou Technology (1024.HK), and JD.com, Inc. (9618.HK) are up more than 2%, while NetEase, Inc. (9999.HK), Tencent Holdings Limited (0700.HK), and Baidu, Inc. (9888.HK) rose more than 1%.
Biotechnology stocks continued to rise, the previous sustained plunge in auto stocks, restaurant stocks, gambling stocks rebounded significantly, Q3 results exceeded expectations, BYD shares opened higher than 6%.
Paper stocks, Apple concept stocks, building materials and cement stocks have risen.
On the other hand, dairy stocks, telecommunications stocks, and domestic banking stocks fell in part.
Technical Analysis:
(HK50, 1-hour chart)
Execution Insight:
HK50 focuses on the 17535-line today. If HK50 can run stably above the 17535-line, then pay attention to the suppression strength of the 18606 and 19517 positions. If the HK50 runs below the 17535-line, then pay attention to the support strength of the 16664 and 15995 positions.
FTSE China A50 Index
Technical Analysis:
(FTSE China A50, 1-hour chart)
Execution Insight:
FTSE China A50 pays attention to the 12733-line today. If the A50 runs steadily below the 12733-line, it will pay attention to the support strength of the two positions of 12423 and 12260. If the A50 runs above the 12733-line, it will open up further upward space. At that time, pay attention to the two positions of 12945 and 13157.
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.
