Search Mark
Home / Global Stock Markets

Stocks Close Lower As Markets Await Jackson Hole, Hang Seng Index Fell More Than 200 Points

US Stocks 

Fundamental Analysis: 

U.S. indices closed lower on Thursday, 26 August 2021, to end a five-session winning streak and pull back from an all-time high. The market was worried over the prospects of less accommodative monetary policy compounded with concerns over the crisis in Afghanistan. The Jackson Hole Symposium will be held today.

The Dow Jones Industrial Average fell by 0.54%, while the S&P 500 and the Nasdaq Composite declined about 0.6% as well. The three major U.S. indices finished lower, while the S&P 500 and the Nasdaq Composite broke six-day win streaks.

The selling momentum intensified, which helps strengthen risk aversion, after Dallas Fed president Robert Kaplan made a hawkish comment, and after explosions at Kabul airport in Afghanistan. Kaplan believes that the progress of the economic recovery proves that there is an opportunity for the Fed to begin to dial back on asset purchases in October or soon after. Currently, Kaplan is not a voting member of the Federal Open Market Committee (FOMC).

Data shows that the U.S. economy grew slightly faster in the second quarter than initially estimated, and the number of people seeking unemployment benefits rose early last week.

Technical Analysis:

(Dow30,1-hour chart) 

Execution Insight:

The above chart shows the five-wave structure formed by the Dow on the left side as predicted. Today, pay attention to the 35346 line. If the Dow runs below the 35346 line, it belongs to the short position of the strong area.

Then, focus on whether the Dow is able to break above the 35166 line. Once it falls below the 35166 line, it becomes a deep pullback. At that time, pay attention to the support of the 34990 and 34724 positions. 

However, if the Dow manages to climb above the 35346 line again, it will enter the strong support area. Then, it is possible to test the suppression strength of the 35494 line again. Once the Dow breaks through the range of 35494, it might have a chance to hit the record highs again. 

Hong Kong Stocks 

Fundamental Analysis: 

The Hang Seng Index fell 278 points to finish at 25,415, with a daily turnover of 138.576 billion yuan in the big market. Under China’s blue chip, Tencent fell by 0.6% to 471.8 yuan, with 8.182 billion yuan in transactions. The second largest deal was Xiaomi, which rose first and then fell after the performance, closing down 3.6% at 24.45 yuan. Mengniu Dairy’s interim results beat expectations, up by 3.5%, the best performing blue chip of the day.

Technical Analysis: 

(HK50,1-hour chart)

Execution Insight: 

HK50 is focusing on the 25816 line today. If HK50 rises to the top range of 25816, it will open up further upward revision. At that time, pay attention to the suppression strength of the two positions of 26535 and 26951. If HK50 runs below the 25816 line, divert your attention to the support of the 25160 position. 

FTSE China A50 Index 

Technical Analysis: 

(A50,1-hour chart)

Execution Insight: 

On A50, focus on the breakthrough range from 14669 to 15298 at the bottom. If it breaks above the 15298 line, it will open up further upward revision, then pay attention to the suppression strength of the 15612 line. If it falls below the 14669 line, it will open up further downward revision. At that time, shift your focus to the support of the 14315 line. 

While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision. 

Share to

Global Stock Markets

US Markets Closed, Goldman Forecasts Election-Driven Inflation

US markets were closed for Juneteenth, Goldman Sachs strategists believe that elections pose the greatest risk to US inflation and bond returns.

2024-6-20 | Global Stock Markets

S&P and Nasdaq Hit New Highs, Nvidia Tops Market Cap

S&P 500 and Nasdaq reaching new record highs. The AI boom propelled Nvidia to surpass Microsoft, making it the world's most valuable company.

2024-6-19 | Global Stock Markets

US Stocks Mixed, Microsoft and Apple Set Record Closes

US stocks closed mixed, with the S&P 500 and Nasdaq hitting new record highs. Microsoft and Apple gained over 1%, setting new all-time closing highs.

2024-6-18 | Global Stock Markets