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S&P 500 Reversed Earlier Losses, H.K. Major Indices Maintain Their Upward Trend


U.S. Stocks 

Fundamental Analysis: 

U.S. stocks closed sharply higher on Wednesday, 30th November 2022, after Federal Reserve Chairman Jerome Powell said the Fed could slow the pace of interest rate hikes as soon as December.

The S&P 500 reversed earlier losses and the Nasdaq jumped after Powell’s speech, prepared for the Brookings Institution think tank, was released.

Nvidia rose more than 8%, Microsoft jumped 6.2% and Apple surged 4.9%.

Tesla jumped 7.7% after China Merchants Bank International said Tesla’s November sales in China were boosted by price cuts and incentives for its Model 3 and Model Y.

The Philadelphia Semiconductor Index jumped 5.85%, narrowing its 2022 decline to about 28%.

U.S. equity markets traded on volume, with 15 billion shares traded across the stock exchanges, compared with a daily average of 11.1 billion shares over the previous 20 trading days.

In November, the S&P 500 rose 5.4%, the Dow gained 5.7% and the Nasdaq gained 4.4%.

The ADP national employment report showed that U.S. private employment rose by 127,000 jobs in November, less than 200,000 expected, suggesting that labor demand is cooling in a high interest rate environment.

The Labor Department will release the much-anticipated nonfarm payrolls data on Friday.

Data released on Wednesday showed that U.S. job openings fell to 10.334 million in October, compared with 10.687 million in the previous month.

Another data showed that the U.S. economy rebounded more than the initial value in the third quarter.

Technical Analysis:

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow today pays attention to the 34221-line. If the Dow runs stably above the 34221-line, then pay attention to the suppression strength of the 34724 and 34990 positions. 

Hong Kong Stocks 

Fundamental Analysis: 

Hong Kong stocks opened higher in the morning session, but the three major indices still maintain their upward trend.

The Hang Seng TECH Index (HSTECH) was up more than 6% at the beginning of the day, closing up 2.38% at noon. The Hang Seng Index (HSI), the Hang Seng China Enterprises Index (HSCEI) rose 1.6% and 1.25% respectively.

The half-day net southbound capital inflow was HK$5.052 billion, the market turnover was HK$125.7 billion.

On the market, large technology stocks generally stronger to support the market rose, Baidu, Inc. (9888.HK) rose more than 6%, Alibaba Group Holding Limited (9988.HK) rose more than 4%, Meituan (3690.HK), Tencent Holdings Limited (0700.HK), JD.com, Inc. (9618.HK) are up.

Auto stocks rose across the board, with XPeng Inc. (9868.HK) seeing the best performance with a surge of more than 15%.

Gambling license landing, gambling stocks continue to rise, Wynn Macau, Limited (1128.HK) rose up to 50%.

The dollar fell back and commodities rebound, while gold, aluminum and other non-ferrous metal stocks rose. 

On the other hand, the concept of anti-epidemic stocks opened high and moved low. Junshi Biosciences Co., Ltd. (1877.HK), CSPC Pharmaceutical Group Limited (1093.HK) went down significantly.

Aviation stocks, coal stocks, power stocks, oil stocks have fallen.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 pays attention to the 18606-line today. If HK50 can run stably above the 18606-line, then pay attention to the suppression strength of the two positions of 19517 and 20467.

FTSE China A50 Index 

Technical Analysis: 

(FTSE China A50, 1-hour chart) 

Execution Insight: 

FTSE China A50 pays attention to the 12900-line today. If A50 runs stably below the 12900-line, pay attention to the support strength of the two positions of 12659 and 12273. If A50 runs above the 12900-line, it will open up further upside space.

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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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