U.S. Stocks Rallied Sharply, Chinese Stocks Rebounded Strongly - Doo Prime News
Doo Prime News > Analysis > Global Stock Markets > U.S. Stocks Rallied Sharply, Chinese Stocks Rebounded Strongly
U.S. Stocks 

Fundamental Analysis: 

U.S. stocks rallied sharply on Monday, 17th October 2022, after Britain staged a major reversal of an economic plan, while Bank of America became the latest financial firm to report solid quarterly results, boosting optimism for the corporate earnings season.

Goldman Sachs rose 2.24% after reports that the firm plans to merge its investment banking and trading businesses. Goldman Sachs is due to report results on Tuesday.

Growth giants such as Apple, Amazon and Tesla all rose, helping lift the S&P 500 growth stock index to climb 3.42%, its biggest one-day percentage gain since 27th July 2022.

Tesla, Netflix and Johnson & Johnson are among the companies expected to report results later in the week.

Technical Analysis:

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow focuses on the 30416-line today. If the Dow runs steadily above the 30416-line, it will pay attention to the suppression strength of the 31000 and 31265 positions. If the Dow runs steadily below the 30416-line, it will pay attention to the support strength of the 30044 and 29620 positions.

Hong Kong Stocks 

Fundamental Analysis: 

Overnight, U.S. stocks rose sharply, and Chinese stocks rebounded strongly.

Hong Kong stocks opened higher, the Hang Seng Index (HSI) rose 1.49%, the Hang Seng China Enterprises Index (HSCEI) rose 1.44%, the Hang Seng TECH Index (HSTECH) rose 2.06%.

On the market, the heavyweight technology stocks rose collectively, ALIBABA (1688.HK), Meituan (3690.HK), Kuaishou Technology (1024.HK), and JD.com, Inc. (9618.HK) are up more than 2%, while NetEase, Inc. (9999.HK), Tencent Holdings Limited (0700.HK), and Baidu, Inc. (9888.HK) rose more than 1%.

Biotechnology stocks continued to rise, the previous sustained plunge in auto stocks, restaurant stocks, gambling stocks rebounded significantly, Q3 results exceeded expectations, BYD shares opened higher than 6%.

Paper stocks, Apple concept stocks, building materials and cement stocks have risen.

On the other hand, dairy stocks, telecommunications stocks, and domestic banking stocks fell in part.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 focuses on the 17535-line today. If HK50 can run stably above the 17535-line, then pay attention to the suppression strength of the 18606 and 19517 positions. If the HK50 runs below the 17535-line, then pay attention to the support strength of the 16664 and 15995 positions.

FTSE China A50 Index 

Technical Analysis: 

(FTSE China A50, 1-hour chart) 

Execution Insight: 

FTSE China A50 pays attention to the 12733-line today. If the A50 runs steadily below the 12733-line, it will pay attention to the support strength of the two positions of 12423 and 12260. If the A50 runs above the 12733-line, it will open up further upward space. At that time, pay attention to the two positions of 12945 and 13157.

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