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S&P 500 Index Closed Slightly Higher, HSI & HSTECH Expanded Their Losses To Over 1%

U.S. Stocks 

Fundamental Analysis: 

The S&P 500 index of U.S. stocks closed slightly higher on Tuesday, 5th July 2022, as investors continued to focus on the growth trajectory of the U.S. economy.

The technology-dominated Nasdaq closed higher, and the Dow Jones industrials closed lower.

As concerns about economic growth weakened risk appetite and increased demand for safe-haven U.S. debt, the U.S. Treasury yields benchmark fell hard on Tuesday, with a key part of the yield curve inverted for the first time in three weeks.

Eight of the S&P’s 11 major stock classes closed lower, led by communications services stocks, as concerns about the recession dimmed the outlook for oil demand. Meanwhile, energy stocks fell the most in percentage terms, falling to a five-month low.

Technical Analysis: 

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow is concerned about the 31000-line today. If the Dow runs steadily above the 31000-line, it will pay attention to the suppression strength of the positions of 31291 and 31661.

Hong Kong Stocks 

Fundamental Analysis: 

Hong Kong stocks opened on a divergent trend, with the Hang Seng Index (HSI) opening 0.35% lower and the Hang Seng TECH Index (HSTECH) rising 0.14%.

Subsequently, the HSI and the Hang Seng Technology Index both expanded their losses to over 1%.

On the market, technology stocks were lower, oil stocks continued to expand their losses, and new energy auto stocks continued to move higher.

Technology stocks were lower,, Inc. (9618.HK) fell once expanded to 5%, the lowest intraday touched 247 Hong Kong dollars. Yesterday’s big rise in SenseTime Group Inc. (0020.HK) today retraced 2%, Tencent Holdings Limited (0700.HK), Kuaishou Technology (1024.HK), Baidu, Inc. (9888.HK), Meituan (3690.HK) fell more than 1%, and Alibaba Group Holding Limited (9988.HK) counter trend rose more than 1%.

Oil stocks continued to expand, China Oilfield Services Limited (2883.HK) fell more than 6%, PetroChina Company Limited (0857.HK), CNOOC Limited (0883.HK), Yanchang Petroleum International Limited (0346.HK) fell more than 5%, Kunlun Energy Company Limited (0135.HK) fell more than 3%.

New energy car stocks were higher, Li Auto Inc. (2015.HK), XPeng Inc. (9868.HK) rose nearly 5%, NIO Inc. (9866.HK) rose more than 3%, Guangzhou Automobile Group Co., Ltd. (2238.HK) rose nearly 3%, Geely Automobile Holdings Limited (0175.HK), Great Wall Motor Company Limited (2333.HK), and BYD Company Limited (1211.HK) shares followed.

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, 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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