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U.S. Stocks Rebound After Fed Warning, H.K. Tech Stocks Lead Gains

U.S. Stocks 

Fundamental Analysis: 

U.S. stocks closed higher on Monday, 13th February 2023. The S&P 500 and Nasdaq rebounded after suffering their biggest one-week losses in two weeks.

Investors await tonight’s important CPI data to gauge the state of inflation and its potential impact on Federal Reserve policy.

By the close of trading, the Nasdaq was up 1.48%, the Dow Jones was up 1.11%, and the S&P 500 was up 1.14%.

Wall Street’s major stock indexes fell in response to Federal Reserve Chairman Jerome Powell’s warning last week that interest rates may need to rise to higher-than-expected levels as the Fed fights inflation.

Yesterday, Microsoft rose more than 3%, Nvidia gained 2.5%, and Apple and Amazon both gained more than 1%.

These tech-related giant stocks contributed the most to the S&P 500’s gains with low volume on the day.

The volume on the U.S. exchanges was relatively small, at 9.5 billion shares, compared with an average volume of 11.9 billion shares over the previous 20 trading days.

So far this year, the S&P 500 is up about 8%, and still down about 14% from its record closing high set in January 2022.

Technical Analysis:

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow pays attention to the 34221-line today. If the Dow runs stably above the 34221-line, then pay attention to the suppression strength of the 34477 and 34724 positions.

Hong Kong Stocks 

Fundamental Analysis: 

Hong Kong stocks three major indices opened collectively higher, the Hang Seng Index (HSI) rose 0.34%, at 21235.92 points, Hang Seng TECH Index (HSTECH) opened 0.48%, at 4395.85 points, Hang Seng China Enterprises Index (HSCEI) opened 0.32%, at 7167.38 points.

On the market, most of the large technology stocks rose, Baidu, Inc. (9888.HK), Kuaishou Technology (1024.HK) rose more than 1%, Meituan (3690.HK), Xiaomi Corporation (1810.HK) are up,, Inc. (9618.HK), Alibaba Group Holding Limited (9988.HK) fell slightly.

Bright Smart Securities & Commodities Group Limited (1428.HK) opened nearly 6% higher, yesterday the stock plunged more than 12%.

Auto stocks rose across the board, Li Auto Inc. (2015.HK) opened nearly 4% higher, biotechnology stocks, luxury goods stocks, yesterday’s strong heavy machinery stocks continue to rise, Zoomlion Heavy Industry Science and Technology Co., Ltd. (1157.HK) continued to rise more than 2%.

In the short term, there is a risk that the U.S. dollar will strengthen in stages, which may suppress Hong Kong stocks.

However, in the medium term, with the optimization of China’s epidemic prevention policy and the continued efforts to “stabilize growth” and give full play to the advantages of the large potential of the domestic demand market and sufficient room for reform, if the economic and corporate profit recovery momentum is still strong in the second half of the year, Hong Kong stocks are expected to rebound again by then.

At the structural level, on the one hand, if the Chinese economy is significantly stronger to drive the dollar back down and the appreciation of the yuan, Hong Kong stocks growth style still has the opportunity to outperform the A-share growth, especially the Hong Kong stock characteristics of the Internet, innovative drugs and other industries.

On the other hand, part of the performance cycle is strong, the valuation adjustment more fully, the current is still in the bottoming out of the fundamentals of the industry or stocks may repair more elasticity, such as raw materials, capital goods and other traditional old economy industries.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 pays attention to the 22127-line today. If HK50 can run stably above the 22127-line, then pay attention to the suppression strength of the two positions of 22785 and 23294.

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