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U.S. Stock Market Fluctuates, H.K. Stock Market Reverts To Pullback

U.S. Stocks 

Fundamental Analysis: 

The U.S. stock market fluctuated on Friday, 10th February 2023. The Dow had risen more than 120 points in the early part of the day, once fell more than 100 points, the end of the stabilization.

As of the close, the Dow rose 169.39 points, or 0.50%, at 33869.27 points. The Nasdaq fell 71.46 points, or 0.61%, at 11718.12 points, while the S&P 500 rose 8.96 points, or 0.22%, at 4090.46 points.

All three major stock indexes recorded losses for the week, with the Dow down 0.17% for the week, the S&P 500 down 1.1% and the Nasdaq down 2.4%.

With continued hawkish pronouncements from Fed officials, the market is unnerved by interest rates remaining high.

Shale oil, natural gas and nuclear power sectors were the top gainers, while the Tesla concept, live streaming concept and new energy vehicle sectors were weak.

Technical Analysis:

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow pays attention to the 33584-line today. If the Dow runs stably above the 33584-line, then pay attention to the suppression strength of the 33949 and 34221 positions.

Hong Kong Stocks 

Fundamental Analysis: 

In the last 3 months, the Hong Kong stock market has continued to rebound, with the Hang Seng Index (HSI) rebounding by more than 50% in aggregate and the Hang Seng TECH Index (HSTECH) by more than 60%.

However, since entering February, Hong Kong stocks have reverted to a pullback, overlaid with some macro factors, as well as the recent news, market confidence seems to have wavered once again, and many funds have even chosen to fall back on their pockets.

Looking back at the starting point of this wave of the market, it is clear that it is the time when the anti-epidemic initiative is optimized, and the anti-trust regulation is wrapped up.

With the double stimulation, the Internet, finance, real estate, medicine and consumer sectors have become the biggest gainers.

After a substantial short-term rebound in stocks, if it is only a positive stimulus from the companies’ own valuation repair and macroeconomic growth expectations, then there will not be any problem, and the possibility of the stock price plunging back again is extremely low even if it no longer rises.

However, the new situation lies in the recent emergence of a number of uncertainties in the market, is to be wary of factors.

First, the recent incident of Hong Kong stockbrokers suspending mainland shareholders from opening accounts and trading in Hong Kong stocks for a short period of time is starting to receive more attention.

Secondly, the Biden administration has recently been rumored to have made some small restrictive moves on our side’s investment in the technology sector.

Reflecting that the relationship between the two sides tends to be complicated, to a certain extent, it has an impact on the confidence of the capital market.

At the same time, technology stocks are the largest proportion of the Chinese stocks, although these technology stocks have also basically returned to Hong Kong for a second listing, but not a good news.

Thirdly, the uncertainty brought by the Fed-led interest rate hike cycle and the geopolitical situation.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 pays attention to the 22127-line today. If HK50 can run stably above the 22127-line, then pay attention to the suppression strength of the two positions of 22785 and 23294.

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