The U.S. stock market exhibited mixed movements on Friday, accompanied by subdued trading.  

All three major indices recorded their fourth consecutive week of gains. Market attention remains on retailers’ holiday sales performance. 

Amidst the continuous rise in the U.S. stock market, U.S. Treasury yields hit multi-month lows this week.  

Investors interpreted this as a sign of cooling inflation, speculating that the Federal Reserve has completed its rate hikes, leading to a decline in bond yields. 

Philip Maldia Madsen, a macro strategist at Nordea, commented, “The issue lies in the fact that if economic growth continues to remain stable in the current policy rate environment, it’s almost certain to say that monetary policy isn’t restricting the economy, implying the Fed has no reason to cut rates.” 

U.S. Stock Market

Fundamental Analysis: 

In the tech sector, major tech stocks declined, with Nvidia dropping nearly 2%. The company postponed the delivery of its H20 AI chips.  

Google and Meta also saw declines, with gold, shipping, and aviation service sectors showing gains. 

iRobot, a robotics company, closed nearly 40% higher following reports of European regulatory approval for Amazon’s acquisition of iRobot. 

In the realm of Chinese concept stocks, most witnessed gains.  

The Nasdaq Golden Dragon China Index rose by 1.62%, accumulating a 3.36% increase for the week.  

Companies like XPeng and Manbang saw significant rises, while others like Netease and Futu Holdings experienced slight declines. 

Technical Analysis:   

(S&P 500 Index, 1-day chart) 

Market Trends: 

• Dow rose by 117.12 points, a 0.33% increase, closing at 35,390.15 points. 
• Nasdaq fell by 15.00 points, a 0.11% decrease, closing at 14,250.85 points. 
• S&P 500 Index increased by 2.72 points, a 0.06% rise, closing at 4,559.34 points. 

Hong Kong Stock Market

In the Hong Kong stock market today, the three major indices showed divergent trends.  

Core tech stocks experienced widespread declines, with Kuaishou falling over 2%.  

Property stocks also faced significant losses, with Sun Hung Kai Properties dropping over 11%.  

Automobile stocks followed suit, with BYD falling over 4%. 

Contrarily, the electronic components sector saw an upward trend, with AAC Technologies rising by almost 4%.  

Goldman Sachs’ report indicated a continuing improvement in global smartphone shipments, supporting healthy supply chain inventory and allowing room for the introduction of new models. 

Technical Analysis:  

(Hang Seng Index, 1-day chart) 

Market Trends: 

• Hang Seng Index (HSI) fell by 0.99%, closing at 17,385.08 points. 
• Hang Seng Tech Index (HSTECH) decreased by 0.94%, closing at 3,986.99 points. 
• Hang Seng China Enterprises Index (HSCEI) dropped by 1.25%, closing at 5,965.36 points. 

FTSE China A50 Index 

Fundamental Analysis: 

On November 27th, A-share indices started slightly lower before dipping during early trading.  

The GEM Index saw a 1% decline in the morning.  

Meanwhile, funds surged into the Northbound Exchange; the CSI 50 index briefly surged by 12% before retracing and stabilizing. 

In sectoral performance, rubber products, instruments, automotive parts, non-metallic materials, professional services, and the coal industry saw significant gains.  

Conversely, cultural media, real estate development, insurance, real estate services, and energy metals faced declines.  

Concepts like controlled nuclear fusion, laser radar, silicon carbide, Huawei’s automotive division, and data elements remained active. 

Technical Analysis: 

(SSE Composite Index, 1-day chart) 

Market Trends: 

• Shanghai Composite Index (SHCOMP) fell by 0.76%, closing at 3,017.92 points. 
• Shenzhen Component Index (SZCOMP) dropped by 0.98%, closing at 9,742.87 points. 
• ChiNext Index (CHINEXT) decreased by 1.06%, closing at 1,917.46 points. 
• SSE STAR Market 50 Index (SSE50) declined by 0.11%, closing at 863.86 points. 

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