U.S. Stocks See The Third Straight Gains, H.K. Major Stocks Index Were Divided - Doo Prime News
Doo Prime News > Analysis > Global Stock Markets > U.S. Stocks See The Third Straight Gains, H.K. Major Stocks Index Were Divided
U.S. Stocks 

Fundamental Analysis: 

U.S. stocks closed higher on Tuesday, 8th November 2022, as voting was underway in the U.S. midterm elections that will determine control of the U.S. Congress, with investors betting there will be political gridlock that could prevent major policy changes in the future.

It was the third straight day of gains for U.S. stocks, with the Dow Jones Industrial Average having lost less than 10% so far this year.

Drugmaker Amgen climbed nearly 6% to a record high after the company reported positive data related to cholesterol drugs and obesity treatments, giving the Dow a boost.

The S&P 500 has risen about 7% from its October closing low, but is still down about 20% so far in 2022 on concerns that aggressive Fed rate hikes could weaken the U.S. economy.

Of the 11 major sectors in the S&P 500, 10 closed higher, led by materials stocks, up 1.72%, and information technology stocks, up 0.92%.

Technical Analysis:

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow focuses on the 32975-line today. If the Dow runs steadily above the 32975-line, it will pay attention to the suppression strength of the 33390 and 33811 positions. If the Dow runs steadily below the 32975-line, it will pay attention to the support strength of the 32363 and 31863 positions.

Hong Kong Stocks 

Fundamental Analysis: 

This morning, the performance of the main index of Hong Kong stocks were divided.

The Hang Seng Index (HSI) fell 0.03%, at 16,552.8 points, the Hang Seng TECH Index (HSTECH) rose 0.09%, at 3,346.92 points, and the Hang Seng China Enterprises Index (HSCEI) rose 0.05%, at 5605.26 points.

On the market, most of the large technology stocks fell, Baidu, Inc. (9888.HK), Meituan (3690.HK) fell more than 1%, NetEase, Inc. (9999.HK), Alibaba Group Holding Limited (9988.HK) fell slightly, Xiaomi Corporation (1810.HK) rose about 2%.

Biomedical stocks fell the most, while domestic insurance stocks, sporting goods stocks, dairy stocks, building materials and cement stocks were generally lower.

On the other hand, non-ferrous metal stocks continued to be strong, with MMG Limited (1208.HK) surging 10.68% to record 4 consecutive gains.

Domestic housing stocks and property management stocks rose significantly, with Apple concept stock AAC Technologies Holdings Inc. (2018.HK) opening a sharp 14.6% higher.

Oversold often means undervalued. With the external environment as a whole showing an improving trend, the Hong Kong stock market fundamentals repair trend is clearer, the market downside risk is low.

At this stage, Hong Kong stocks are more cost-effective allocation.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 focuses on the 15995-line today. If HK50 can run stably above the 15995-line, then focus on the suppression strength of the 16964 and 17535 positions. If the HK50 runs below the 15995-line, then pay attention to the support strength of the 15136 and 14309 positions.

FTSE China A50 Index 

Technical Analysis: 

(FTSE China A50, 1-hour chart) 

Execution Insight: 

FTSE China A50 focuses on the 11665-line today. If the A50 runs stably below the 11665-line, then pay attention to the support strength of the two positions of 11447 and 11220. If the A50 runs above the 11665-line, it will open up further upward space. At that time, pay attention to the two positions of 12336 and 12659.

Risk Disclosure   
Trading in financial instruments involves high risks due to the fluctuation in the value and prices of the underlying financial instruments. Due to the adverse and unpredictable market movements, large losses exceeding the investor’s initial investment could incur within a short period of time. The past performance of a financial instrument is not an indication of its future performance.  Investments in certain services should be made on margin or leverage, where relatively small movements in trading prices may have a disproportionately large impact on the client’s investment and client should therefore be prepared to suffer significant losses when using such trading facilities.   

Please make sure you read and fully understand the trading risks of the respective financial instrument before engaging in any transaction with Doo Prime’s trading platforms. You should seek independent professional advice if you do not understand any of the risks disclosed by us herein or any risk associated with the trade and investment of financial instruments. Please refer to Doo Prime’s Client Agreement and Risk Disclosure Statement to find out more. 

[Disclaimer]  
This information is addressed to the general public solely for information purposes and should not be taken as investment advice, recommendation, offer, or solicitation to buy or sell any financial instrument. The information displayed herein has been prepared without any reference or consideration to any particular recipient’s investment objectives or financial situation. Any references to the past performance of a financial instrument, index, or a packaged investment product shall not be taken as a reliable indicator of its future performance. Doo Prime and its holding company, affiliates, subsidiaries, associated companies, partners and their respective employees, as well as managers, make no representation or warranties to the information displayed and Doo Prime and its holding company, affiliates, subsidiaries, associated companies, partners and their respective employees, as well as managers, shall not be liable for any direct, indirect, special or consequential loss or damages incurred a result of any inaccuracies or incompleteness of the information provided. Doo Prime and its holding company, affiliates, subsidiaries, associated companies, partners and their respective employees, as well as managers, shall not be liable for any direct, indirect, special or consequential loss or damages incurred as a result of any direct or indirect trading risks, profit, or loss arising from any individual’s or client’s investment. 

Share to

One Click Away To Global Investments

Register
Trade glod and Sliver on Doo Prime Doo Prime provides mainstream index futures and commodity futures around the world Doo Prime provide over 300 the most popular US and Hong Kong stock cfd products