At the close of trading on Monday, U.S. stocks showed mixed results, with the Dow dropping over 240 points.  

A jump in U.S. government bond yields weighed on stock indices. The February Core PCE Price Index in the U.S. indicated weak inflation, reinforcing market expectations for a Federal Reserve rate cut this year.

However, Fed Chairman Powell stated it was largely in line with expectations and reiterated a cautious approach to cutting rates. This week, the market’s attention is on the March non-farm payroll data. 

Investors are cautious about the timing and pace of the Fed’s rate cuts this year and how long it will take to achieve a 2% inflation target.  

On Friday, Fed Chairman Powell said the economy remains strong, with inflation still above the target. 

Powell stated, “This means we don’t need to rush to cut rates. The economy is strong, and the labor market is strong. Inflation has been decreasing. We can and will remain cautious in this decision because we can.” 

U.S. Stocks

Fundamental Analysis: 

In U.S. stocks, large technology stocks showed mixed results, with Google up over 3%, Meta up over 1%, Microsoft nearly up 1%, and Apple nearly down 1%.  

Precious metals, semiconductor equipment, and materials led the gains, with Coeur Mining up over 10%, American Gold Corp over 7%, Micron Technology over 5%—reaching a new closing high, TSMC up 4%, and ASML Holding and Advanced Micro Devices over 2%. 

Popular Chinese concept stocks generally rose, with the NASDAQ Golden Dragon China Index up 1.91%.  

DouYu surged over 13%, Vipshop over 5%, Futu Holdings over 4%, with Weibo, Manbang Group, and NIO up over 3%, Baidu up 3%, Pinduoduo over 2%, and iQIYI, Alibaba, JD.com, XPeng Motors, and Li Auto up over 1%. NetEase fell over 4%, while Tencent Music and Bilibili saw slight declines. 

Technical Analysis: 

(S&P 500 Index, 1-day chart) 

Market Trends: 

• Nasdaq was up 17.37 points, a 0.11% increase, closing at 16,396.83. 
• Dow Jones was down 240.52 points, a 0.60% decrease, at 39,566.85. 
• S&P 500 Index fell 10.58 points, down 0.20%, at 5,243.77. 

Hong Kong Stock Market

Fundamental Analysis: 

Hong Kong stocks saw a collective rise today.  

On the market, tech stocks generally increased, with Xiaomi up over 12%, leading the pack, Meituan up over 4%, and Baidu up over 2%, while NetEase contrarily fell over 7%.  

Oil stocks surged collectively, with PetroChina up over 6%.  

Spot gold reached new highs, with Shandong Gold Mining up over 8%; copper stocks also advanced, with First Quantum Minerals up over 11%. 

Gold stocks soared collectively, with Shandong Gold Mining up over 8%.  

With U.S. inflation figures moderate and increased speculation on the Federal Reserve’s rate cuts, the spot price of gold in New York continued to hit record highs, reaching a record high of $2265.651 per ounce yesterday. 

Technical Analysis: 

(Hang Seng Index, 1-day chart) 

Market Trends: 

• Hang Seng Index (HSI) was up 2.36%, at 16,931.53. 
• Hang Seng Tech Index (HSTECH) rose 2.37%, at 3,559.84. 
• Hang Seng China Enterprises Index (HSCEI.) was up 2.62%, at 5,962.80. 

FTSE China A50 Index

Fundamental Analysis: 

In A-share markets, the three major indices opened lower, with early market divergence.  

The Shanghai Composite was slightly up, while the Shenzhen Component and the ChiNext Index showed weakness, leading to a collective dip during the session, with the ChiNext Index dropping over 1%. 

Sector-wise, chemicals, wind power equipment, energy metals, mining, and fertilizer industries led the gains. 

Meanwhile, cultural media, gaming, internet services, software development, computer equipment, and medical services sectors saw the most significant drops.  

Themes like titanium dioxide, epoxy propane, flammable ice, flying cars, phosphate chemical, chemical raw materials, and fluorine chemical were active. 

Technical Analysis:  

(SSE Composite Index, 1-day chart) 

Market Trends: 

• Shanghai Composite Index (SHCOMP) was up 0.03%, at 3,078.33. 
• Shenzhen Component Index (SZCOMP) fell 0.37%, at 9,611.8. 
• ChiNext Index (CHINEXT) was down 0.21%, at 1,868.15. 
• SSE Sci-Tech Innovation 50 Index fell 0.37%, at 772.65. 

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