U.S. Major Indexes End up More Than 2%, H.K. Stocks Opened Higher - Doo Prime News
Doo Prime News > Analysis > Global Stock Markets > U.S. Major Indexes End up More Than 2%, H.K. Stocks Opened Higher
U.S. Stocks 

Fundamental Analysis: 

U.S. stocks surged yesterday, 13th October 2022, with all three major indexes ending the day up more than 2%, as technical support and investor short-covering pushed the market to rebound strongly after earlier selloffs.

In yesterday’s sharp reversal, the S&P 500 jumped nearly 194 points from its intraday low to its high, the index’s biggest intra-day point gain since 24th January 2022.

Financial and energy stocks led the gains among the S&P 500 sectors. The market fell in response after data showed the Consumer Price Index (CPI) rose 8.2% year-over-year in September, as forecasts were for an 8.1% gain.

Some of Wall Street’s biggest banks will report results today to kick off the third-quarter earnings season, and investors are waiting to see how the high interest rate environment will affect their profits.

Warburg Union rose, after the company reported better-than-expected fourth-quarter earnings.

The number of stocks up and down on the New York Stock Exchange was 2.24:1 and the Nasdaq exchange was 2.10:1.

Three S&P 500 components hit new 52-week highs and 172 new lows while five Nasdaq components hit new highs and 600 new lows.

Technical Analysis:

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow focuses on the 30350 line today. If the Dow runs steadily above the 30350-line, it will pay attention to the suppression strength of the 30495 and 31000 positions. If the Dow runs steadily below the 30350-line, it will pay attention to the support strength of the 30083 and 29767 positions.

Hong Kong Stocks 

Fundamental Analysis: 

U.S. CPI in September exceeded expectations, and U.S. stocks fought back!

Hong Kong stocks, which have fallen in a row, opened higher, with the Hang Seng Index (HSI) up 1.72%, the Hang Seng China Enterprises Index (HSCEI) up 1.46%, and the Hang Seng TECH Index (HSTECH) up 1.86%.

On the market, large technology stocks rebounded across the board. Baidu, Inc. (9888.HK) and Kuaishou Technology (1024.HK) rose by more than 3%. Tencent Holdings Limited (0700.HK), Meituan (3690.HK), NetEase, Inc. (9999.HK) and JD.com, Inc. (9618.HK) all rose by more than 1%.

Biotechnology stocks continued to rise, building materials and cement stocks, catering stocks, shipping stocks, semiconductor stocks, gas stocks, auto stocks have strengthened.

On the other hand, only a few pharmaceutical stocks fell, and property stocks Zhenro Services Group Limited (6958.HK) fell more than 5%.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 focuses on the 17535-line today. If HK50 can run stably above the 17535-line, then pay attention to the suppression strength of the 18606 and 19517 positions. If the HK50 runs below the 17535-line, then pay attention to the support strength of the 16664 and 15995 positions.

FTSE China A50 Index 

Technical Analysis: 

(FTSE China A50, 1-hour chart) 

Execution Insight: 

FTSE China A50 pays attention to the 12733-line today. If the A50 runs steadily below the 12733-line, it will pay attention to the support strength of the two positions of 12423 and 12260. If the A50 runs above the 12733-line, it will open up further upward space. At that time, pay attention to the two positions of 12945 and 13157.

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