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Wall Street Recorded Longest Sustained Round Of Weekly Declines, H.K. Stocks Moved Repeatedly

U.S. Stocks 

Fundamental Analysis: 

U.S. stocks closed higher on Monday, 23rd May 2022, as bank stocks climbed and a rebound in market-leading technology stocks pushed the market higher in general, after Wall Street stocks recorded their longest sustained round of weekly declines since the dot-com bubble burst more than 20 years ago.

The three major U.S. stock indexes rose between 1.6% and 2.0%, with tech giants Apple and Microsoft rebounding to provide the biggest boost. Interest rate-sensitive bank stocks jumped 5.1% after JPMorgan Chase, the largest U.S. bank, raised its interest income forecast for the year.

JPMorgan Chase shares surged 6.2%. Markets have been quite shaky in recent weeks, with concerns about continued high inflation and the Federal Reserve’s aggressive efforts to control inflation as the global economy copes with the impact of Russia’s invasion of Ukraine.

The Dow Jones Industrial Average rose 618.34 points, or 1.98%, to 31,880.24, the S&P 500 rose 72.39 points, or 1.86%, to 3,973.75, and the Nasdaq gained 180.66 points, or 1.59%, to 11,535.28.

Technical Analysis: 

(Dow 30, 1-hour chart) 

Execution Insight: 

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

Hong Kong Stocks 

Fundamental Analysis: 

Hong Kong stocks moved repeatedly, the Hang Seng Index (HSI) fell 1%, the Hang Seng TECH Index (HSTECH) fell more than 1%.

Among the HSI components, Sands China Ltd. (1928.HK) and Techtronic Industries Company Limited (0669.HK) fell nearly 5%, while BYD Company Limited (1211.HK), China Mengniu Dairy Company Limited (2319.HK) and Lenovo Group Limited (0992.HK) fell more than 3%.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 focuses on the 19517-line today. If HK50 can run stably above the 19517-line, then pay attention to the suppression strength of the 20467 and 21450 positions. If the HK50 runs below the 19517-line, then pay attention to the support of the 18606-line.

FTSE China A50 Index 

Technical Analysis: 

(FTSE China A50, 1-hour chart) 

Execution Insight: 

FTSE China A50 focuses on the 13157-line today. If the A50 runs steadily below the 13157-line, it will pay attention to the support strength of the two positions of 12733 and 12328. If the A50 runs above the 13157-line, it will open up further upward space. At that time, pay attention to the two positions of 13496 and 13983.

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