U.S. stocks ended near flat on Tuesday, 21 September 2021, after a broad selloff on the previous day, with worries over troubles at property developer China Evergrande and caution ahead of Wednesday’s Federal Reserve policy news keeping a lid on the market.
Trading was choppy, with the Dow and S&P 500 erasing session gains just before the close, while the Nasdaq finished slightly higher.
Investors are waiting for the end of this week’s Fed meeting that may shed light on when its massive purchase of government debt will begin to ease.
Officials will reveal new projections as investors are also on alert for any timing on rate tightening.
The Dow Jones Industrial Average fell by 0.15%, the S&P 500 lost 0.08%, and the Nasdaq Composite added 0.22%.
Today, on the Dow, focus on the 34477 line. As long as the Dow runs below the 34477 line, it will maintain a bearish trend. Only when the Dow rises again to the top of the 34477 line, there is a possibility of further upward movement. At that time, pay attention to the suppression of the two positions of 34724 and 34990.
Hong Kong Stocks
This week, Hong Kong stocks once fell below 24,000 points after opening low, with real estate stocks led the decline, dragging financial stocks down. The Hang Seng Index closed down 3.3%, narrowly guarding the 24,000-point mark.
Property giant China Evergrande Group shares dropped by more than 10%. Sinic Holdings, the leading real estate company in Jiangxi, closed down 87%, with its market capitalization evaporating more than HK$10 billion a day. This has become a major focus of the market.
On HK50 today, we pay attention to the support of the 24469 line. Once the buy order is obtained, then focus on the suppression strength of the two positions of 25160 and 25816 above. If HK50 falls below the 24469 line, it will open up further downward revision.
FTSE China A50 Index
On China A50, pay attention to the 14899 line today. And take a closer look at the suppression strength of the two positions of 14899 and 14669 above. Then, focus on the support of the 14315 line below.
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