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Major U.S. Stock Indexes See Continuous Gains, H.K. Large Technology Stocks Fell


U.S. Stocks 

Fundamental Analysis: 

U.S. stocks rose on Friday, 27th January 2023, after a shaky move last week, with economic data and corporate earnings estimates suggesting weak demand but also showing resilience ahead of this week’s Federal Reserve monetary policy meeting.

All three major U.S. stock indexes closed higher, with the Nasdaq gaining the most, driven by large-cap stocks.

The S&P 500 and the Dow Jones Industrial Average posted their third weekly gains in four weeks last week, while the tech-heavy Nasdaq posted its fourth consecutive weekly gain.

So far this year, the Nasdaq has jumped 11%, while the S&P 500 and Dow are up 6% and 2.5%, respectively.

The fourth-quarter earnings season is in full swing, with 143 companies in the S&P 500 already reporting quarterly results.

According to Lufthansa, 67.8% of these companies beat market expectations, slightly better than the long-term average of 66%, but well below the 76% rate of the past four quarters.

The market now sees total quarterly earnings for the S&P 500 down 2.9% year-over-year, compared with a more modest 1.6% annual decline in the 1st January 2023 estimate.

Technical Analysis:

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow pays attention to the 33584-line today. If the Dow runs stably above the 33584-line, then pay attention to the suppression strength of the 33949 and 34221 positions.

Hong Kong Stocks 

Fundamental Analysis: 

Hong Kong stocks rose sharply in two trading days last week. Today, the three major indexes of Hong Kong stocks opened lower collectively.

The Hang Seng Index (HSI) fell 0.48%, at 22579.88 points, the Hang Seng TECH Index (HSTECH) fell 0.81%, at 4774.34 points, the Hang Seng China Enterprises Index (HSCEI) fell 0.69%, at 7719.88 points.

On the market, most of the large technology stocks fell. Alibaba Group Holding Limited (9988.HK) fell more than 2%, JD.com, Inc. (9618.HK), Tencent Holdings Limited (0700.HK), and Meituan (3690.HK) fell nearly 2%. Kuaishou Technology (1024.HK) bucked against the trend and opened 1.8% higher.

Domestic housing stocks and property management stocks fell, home appliances stocks, non-ferrous metals stocks, shipping stocks, biotechnology stocks have been lower.

On the other hand, 2022 annual auto exports exceeded 3 million units, auto stocks rose across the board, NIO Inc. (9866.HK) rose more than 5%, Tesla surged 33.34% in a single week, Tesla concept stocks rose generally.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 pays attention to the 22127-line today. If HK50 can run stably above the 22127-line, then pay attention to the suppression strength of the two positions of 22785 and 23294.

FTSE China A50 Index 

Technical Analysis: 

(FTSE China A50, 1-hour chart) 

Execution Insight: 

FTSE China A50 pays attention to the 14371-line today. If A50 can run stably above the 14371-line, then pay attention to the suppression strength of the 14695 and 14985 positions.

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. 

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