Nasdaq Rose More Than 2%, Chinese Index Rose More Than 2%. - Doo Prime News
Doo Prime News > Analysis > Global Stock Markets > Nasdaq Rose More Than 2%, Chinese Index Rose More Than 2%.
U.S. Stocks 

Fundamental Analysis: 

Major U.S. stock indexes climbed to their highest in about a month on Wednesday, 7th September 2022, as U.S. bond yields fell and investors ignored hawkish statements made by Federal Reserve officials.

The Nasdaq, S&P 500 and Dow Jones Industrial Average last recorded a large single-day percentage gain on 10th August 2022.

However, investors are skeptical that this is a long-term trend.

The tech-heavy Nasdaq led the major indexes higher, ending a seven-day losing streak.

Hawkish statements from Fed Chairman Jerome Powell, coupled with signs of a slowdown in Europe and the economy and aggressive measures by major central banks to curb inflation, have led to a sharp sell-off in U.S. stocks since mid-August.

Data indicating the strength of the U.S. economy has prompted traders to bet that the Federal Reserve will raise interest rates by 75 basis points later this month.

Federal funds rate futures showed investors believe there is a more than 76% chance of such a move.

10-year U.S. bond yields retreated from three-month highs touched early in the session, boosting rate-sensitive stocks such as Tesla, Microsoft and Amazon.

When Treasury yields fall, high-growth companies, including those in the technology sector, tend to benefit because it means a lower discount to their future profits when investors calculate valuations.

Still, the market is looking for more outward signs of how the Fed will raise rates to curb surging inflation ahead of its next meeting later this month.

Technical Analysis:

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow focuses on the 31265-line today. If the Dow runs steadily above the 31265-line, it will pay attention to the suppression strength of the two positions of 31661 and 31995. If the Dow runs steadily below the 31265-line, it will pay attention to the support strength of the two positions of 31000 and 30608.

Hong Kong Stocks 

Fundamental Analysis: 

Overnight, Nasdaq rose more than 2%, the Chinese index rose more than 2%.

Hong Kong stocks, Hang Seng Index (HSI) opened flat, the Hang Seng China Enterprises Index (HSCEI) rose 0.08%, the Hang Seng TECH Index (HSTECH) rose 0.45%.

On the market, most of the large technology stocks rose, Alibaba Group Holding Limited (9988.HK) rose more than 1%, Baidu, Inc. (9888.HK), Xiaomi Corporation (1810.HK), Kuaishou Technology (1024.HK), and Meituan (3690.HK) were up.

Yesterday’s strong non-ferrous metal stocks continued to rise, e-cigarette concept stocks, Smoore International Holdings Limited (6969.HK) opened nearly 3% higher, while most of the restaurant stocks, film and entertainment stocks rose.

On the other hand, international oil prices fell sharply, U.S. oil fell below $ 82, three of the major crude oil sank.

U.S. West route container freight rates plunged 60% in the year, ports and shipping stocks lower.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 focuses on the 19517-line today. If HK50 can run stably above the 19517-line, it will pay attention to the suppression strength of the 20467 and 21450 positions. If the HK50 runs below the 19517-line, it will pay attention to the support strength of the 18606 and 17535 positions.

FTSE China A50 Index 

Technical Analysis: 

(FTSE China A50, 1-hour chart) 

Execution Insight: 

FTSE China A50 focuses on the 13157-line today. If the A50 runs steadily below the 13157-line, it will pay attention to the support strength of the two positions of 12945 and 12733. If the A50 runs above the 13157-line, it will open up further upward space. At that time, pay attention to the two positions of 13544 and 13887.

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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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