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Major U.S. Stock Indexes Closed About 2.5% Higher, FTSE China A50 Index Futures Fell 1.03%


U.S. Stocks 

Fundamental Analysis: 

U.S. stocks closed sharply higher on Friday, 28th October 2022, as markets rose broadly, with encouraging economic data and a brighter earnings outlook boosting investors’ risk appetite, ahead of the Federal Reserve holding a much-anticipated two-day policy meeting this week.

All three major U.S. stock indexes closed about 2.5% higher, with the S&P 500 and Nasdaq rising for a second straight week.

The blue-chip Dow Jones Industrial Average rose for the fourth consecutive week and posted its largest weekly percentage gain since May.

All 11 major sectors of the S&P 500 closed higher, except for non-essential consumer stocks, which were dragged down by Amazon. Technology stocks posted the largest percentage gain.

Halfway through the third quarter reporting season, 263 of the S&P 500 component companies have reported results.

Intel jumped 10.7% after lowering its spending forecast, Twitter delisted from the New York Stock Exchange and Tesla CEO Musk closed a deal to buy Twitter for $44 billion.

Technical Analysis:

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow focuses on the 32681-line today. If the Dow runs steadily above the 32681-line, it will pay attention to the suppression strength of the 32975 and 33390 positions. If the Dow runs steadily below the 32681-line, it will pay attention to the support strength of the 32363 and 32038 positions.

Hong Kong Stocks 

Fundamental Analysis: 

Today, the Hang Seng Index (HSI) opened 0.22% lower, while the Hang Seng TECH Index (HSTECH) rose 0.2%.

In early trading in the Asia-Pacific market, the FTSE China A50 Index futures fell 1.03%.

On the market, gas stocks were the top losers, gambling stocks continued to fall, and most of the home appliance stocks, drug stocks, oil stocks and real estate stocks were down.

On the other hand, the market-making trading of stocks on the Science and Technology Innovation Board started, Chinese brokerage stocks strengthened significantly, cell phone concept stocks, power stocks and auto stocks rose generally.

Large tech stocks were diverged, with NetEase, Inc. (9999.HK) and Xiaomi Corporation (1810.HK) opening slightly higher, Alibaba Group Holding Limited (9988.HK) down over 1%, JD.com, Inc. (9618.HK) and Kuaishou Technology (1024.HK) were lower, while Meituan (3690.HK) was up 1.8% against the trend.

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 11220-line today. If the A50 runs stably below the 11220-line, pay attention to the support strength of the two positions of 10989 and 10750. If the A50 runs above the 11220-line, it will open up further upward space. At that time, pay attention to the two positions of 11447 and 11665.

Risk Disclosure   
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[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. 

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