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U.S. Stock Market Indexes Closed Higher, H.K. Stocks Closed Up Collectively


U.S. Stocks 

Fundamental Analysis: 

Major U.S. stock market indexes closed higher on Wednesday, 23rd November 2022 after the Federal Reserve released minutes from its November meeting indicating that it may soon slow the pace of interest rate hikes.

The minutes show that at a meeting earlier this month, an “overwhelming majority” of policymakers agreed that it “may soon be appropriate” to slow the pace of interest rate increases.

Initial jobless claims rose more than expected last week, and U.S. business activity contracted for the fifth straight month in November.

Consumer confidence rose and new home sales were higher than expected.

Tesla Inc. jumped 7.82% as Citigroup upgraded the electric car maker’s stock to “neutral” from “sell.

Shares of farm equipment maker Deere soared 5.03% after the company reported higher-than-expected quarterly profit.

Technical Analysis:

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow today pays attention to the 33949-line. If the Dow runs stably above the 33949-line, then pay attention to the suppression strength of the 34221 and 34477 positions.

Hong Kong Stocks 

Fundamental Analysis: 

The three major indices of Hong Kong stocks closed up collectively at noon. The Hang Seng Index (HSI) was up 0.52%, the Hang Seng TECH Index (HSTECH)was up 0.67% and the Hang Seng China Enterprises Index (HSCEI) was up 0.52%.

The half-day net southbound capital inflow was 1.669 billion Hong Kong dollars, the market turnover was 50 billion Hong Kong dollars. 

On the market, the weighted technology stocks rose generally. Kuaishou Technology (1024.HK), Baidu, Inc. (9888.HK), Bilibili Inc. (9626.HK), NetEase, Inc. (9999.HK) rose about 2%. Alibaba Group Holding Limited (9988.HK), and Tencent Holdings Limited (0700.HK) are up, while Meituan (3690.HK) fell slightly before the results.

16 financial initiatives officially released, property management stocks and domestic housing stocks again led the rise, Country Garden Holdings Company Limited (2007.HK) rose 11%, Country Garden Services Holdings Company Limited (6098.HK) rose 6%.

Tobacco stocks, Hong Kong banking stocks, anti-epidemic concept stocks, biotechnology stocks, photovoltaic solar stocks and other stocks were active.

In addition, aviation stocks, catering stocks, tourism stocks and other stocks weakened.

Yesterday’s surge in heavy infrastructure stocks retraced; Xiaomi Corporation (1810.HK) fell nearly 4% after the results.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 pays attention to the 17535-line today. If HK50 can run stably above the 17535-line, then pay attention to the suppression strength of the two positions of 18606 and 19517.

FTSE China A50 Index 

Technical Analysis: 

(FTSE China A50, 1-hour chart) 

Execution Insight: 

FTSE China A50 pays attention to the 12273-line today. If A50 runs stably below the 12273-line, then pay attention to the support strength of the two positions of 11955 and 11665. If A50 runs above the 12273-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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