S&P Ends Slightly Lower, Hang Seng Opens Negative - Doo Prime News
Doo Prime News > Analysis > Global Stock Markets > S&P Ends Slightly Lower, Hang Seng Opens Negative
US Stocks 

Fundamental Analysis: 

The S&P 500 ended slightly lower on Thursday, 16 September 2021, paring losses in late trading after unexpectedly strong retail sales data underscored the strength of the U.S. economic recovery.

The three major indices spent much of the day in negative territory as rising U.S. Treasury yields pressured market-leading technology stocks, and the rising dollar weighed on exporters. 

Data released before the opening bell showed an unexpected bump in retail sales as shoppers weathered Hurricane Ida and the Delta variant, evidence of resilience in the consumer, who contributes about 70% to U.S. economic growth. Once again, it shows that the U.S. consumer continues to spend and help the economy grow. 

On the other hand, the Dow fell by 0.18%, the S&P 500 lost 0.16%, and the Nasdaq added 0.13%. 

Technical Analysis:

(Dow30,1-hour chart) 

Execution Insight:

The Dow has now formed a trading range low band of 34477–34990. Today, pay attention to the breakthrough direction of this range. If it falls below 34477, it will open up further room for retreat. If it runs up to 34990, then focus on the suppression of the Dow. Only when the Dow moves above the 34990 line, it will open up further room for advance.

Hong Kong Stocks 

Fundamental Analysis: 

  • The Hang Seng Index opened lower at 24,589.17, down by 78.68, or -0.32%.  
  • Hang Seng China Enterprises Index shed 0.16%, to 8,791.94 points 
  • Hang Seng Technology Index rose by 0.12% 

The property management, tobacco, and sports sectors rose, while the internal insurance, internal housing, and steel sectors fell. Tencent fell by 1.2%, and Sunac dropped by 2.9%. Meanwhile, Evergrande was mixed, with Evergrande New Energy Auto down by 1.7%, the Evergrande Group down by 0.38%, and Evergrande Property up by nearly 2%.

Technical Analysis: 

(HK50,1-hour chart)

Execution Insight: 

On HK50 today, we pay attention to the support of the 24469 line. Once the buy order is obtained, then focus on the suppression strength of the two positions of 25160 and 25816 above. If HK50 falls below the 24469 line, it will open up further downward revision. 

FTSE China A50 Index 

Technical Analysis: 

(A50,1-hour chart)

Execution Insight: 

On A50 today, pay attention to the 14899 line. Also focus on the suppression strength of the 15074 and 15298 positions above. Should A50 falls below the 14899 line, it will open up further downward revision. 

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