U.S. Stocks 

Fundamental Analysis: 

U.S. stocks closed higher on Thursday, 21st July 2022, helped by a late-afternoon rally and a climb in growth giants including Tesla.

The tech-dominated Nasdaq led gains, up nearly 1.4%, while the S&P 500 hit its highest closing level since 9th June 2022 and the Dow Jones industrials climbed 0.5%.

Tesla rose 9.8%, with the company reporting better-than-expected quarterly results on Wednesday evening.

AT&T fell sharply, dragging telecom stocks lower, after the wireless carrier cut its cash flow forecast, saying some customers were late paying their bills.

Energy stocks fell on weak crude oil prices.

U.S. initial jobless claims rose for a third straight week last week to an eight-month high, while a closely watched gauge of factory activity also slipped this month.

These are the latest signs that the U.S. economy is slowing amid rising interest rates and high inflationary pressures, fueling recession fears.

Technical Analysis: 

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow focuses on the 32083-line today. If the Dow runs steadily above the 32083-line, it will pay attention to the suppression strength of the two positions of 32455 and 32781. If the Dow runs steadily below the 32083-line, it will pay attention to the support strength of the two positions of 31661 and 31291.

Hong Kong Stocks 

Fundamental Analysis: 

Overnight, U.S. stocks recorded three consecutive positives, and Chinese stocks resumed their upward trend.

Hong Kong stocks opened higher across the board, the Hang Seng Index (HSI) rose 0.69%, the Hang Seng China Enterprises Index (HSCEI) rose 0.71%, the Hang Seng TECH Index (HSTECH) rose 1.26%.

On the market, large technology stocks strengthened. NetEase, Inc. (9999.HK) rose more than 2%, Meituan (3690.HK), while Kuaishou Technology (1024.HK), JD.com, Inc. (9618.HK), Alibaba Group Holding Limited (9988.HK), and Tencent Holdings Limited (0700.HK) are up.

Biotechnology stocks continue to be active, heavy machinery stocks, education stocks, automotive stocks, photovoltaic stocks, restaurant stocks rose, yesterday’s plunge in domestic housing stocks and property management stocks rebounded.

Sporting goods stock plunged 8.6%, while gas stocks, home appliances stocks and oil stocks mostly fell.

On the other hand, news that Xtep International Holdings Limited (1368.HK) was cashing out HK$1 billion by shareholders.

Xtep International Holdings Limited (1368.HK) fell nearly 9%, the controlling shareholder discounted the allotment of shares to cash 1 billion Hong Kong dollars.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 focuses on the 21450-line today. If HK50 can run stably above the 21450-line, then pay attention to the suppression strength of 22127 and 22785. If HK50 runs below the 21450-line, then pay attention to the support strength of 20467 and 19517.

FTSE China A50 Index 

Technical Analysis: 

(FTSE China A50, 1-hour chart) 

Execution Insight: 

FTSE China A50 focuses on the 14352-line today. If the A50 runs stably below the 14352-line, it will pay attention to the support strength of the two positions of 13970 and 13544. If the A50 runs above the 14352-line, it will open up further upward space. At that time, pay attention to the two positions of 14695 and 14985.

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