U.S. Stocks 

Fundamental Analysis: 

U.S. stocks closed mixed on Wednesday, 29th June 2022, the Federal Reserve Chairman Jerome Powell believes that the U.S. economic situation is strong and can afford to raise interest rates, but can not guarantee a soft landing of the economy.

As of the close, the Nasdaq fell 0.03% to 11,177.89 points, the Dow rose 0.27% to 31,029.31 points, and the S&P 500 fell 0.07% to 3,818.83 points, two consecutive days in the bear market range, closing down more than 20% from the record high on 3rd January this year. The potential as of Thursday recorded the largest semi-annual decline since 1970.

The Nasdaq closed down 0.03% at 11,177.89, and the S&P was down for three consecutive days, continuing to fall away from the highs set on Friday since 9th June 2022.

Large technology stocks were mixed, with Amazon up 1.4%, Apple and Microsoft up more than 1%, Tesla down 1.79%, and Meta up 2%.

Technical Analysis: 

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow focuses on the 31000-line today. If the Dow runs steadily above the 31000-line, it will pay attention to the suppression strength of the 31291 and 31661 positions. If the Dow runs steadily below the 31000-line, it will pay attention to the support strength of the 30608 and 30350 positions.

Hong Kong Stocks 

Fundamental Analysis: 

Overnight, U.S. stock indexes rose and fell, Hong Kong stocks continued yesterday’s pullback, the Hang Seng Index (HSI) fell 0.36%, the Hang Seng China Enterprises Index (HSCEI) fell 0.5%, the Hang Seng TECH Index (HSTECH) fell 0.69%.

On the market, most of the large technology stocks were lower, NetEase, Inc. (9999.HK), Meituan (3690.HK), Xiaomi Corporation (1810.HK), Tencent Holdings Limited (0700.HK) fell more than 1%, Kuaishou Technology (1024.HK), Alibaba Group Holding Limited (9988.HK) fell slightly, Baidu, Inc. (9888.HK), JD.com, Inc. (9618.HK) opened higher.

Pharmaceutical stocks, gambling stocks, aviation stocks, Internet medical stocks, power stocks, auto retail stocks fell in general. Sands China Ltd. (1928.HK) fell nearly 2% to lead the decline in blue chips.

On the other hand, film and entertainment stocks moved higher, with Maoyan Entertainment (1896.HK) and Alibaba Pictures Group Limited (1060.HK) rising, while software stocks and sporting goods stocks partially rose.

New Oriental Education & Technology Group Inc. (9901.HK) rose nearly 7% as Oriental Select fans surpassed 20 million. The two new stocks listed today were split, with TI Cloud Inc. (2167.HK) breaking down slightly by 0.08%, while WEIli Holdings Ltd (2372.HK) rose over 11%.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 focuses on the 22127-line today. If HK50 can run stably above the 22127-line, then focus on the suppression strength of 22785 and 23294. If HK50 runs below the 22127-line, then pay attention to the support strength of 21450 and 20467.

FTSE China A50 Index 

Technical Analysis: 

(FTSE China A50, 1-hour chart) 

Execution Insight: 

FTSE China A50 focuses on the 14695-line today. If the A50 runs stably below the 14695-line, it will pay attention to the support strength of the two positions of 14352 and 13970. If the A50 runs above the 14695-line, it will open up further upward space. At that time, pay attention to the two positions of 14985 and 15184.

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