U.S. Stocks 

Fundamental Analysis: 

Wall Street’s major indexes jumped more than 2% on Tuesday, with investors buying growth giants and energy stocks after stocks tumbled last week on fears the global economy is in recession.

The market generally rallied, with all 11 major sectors of the S&P 500 rising, after the benchmark posted its biggest weekly percentage loss since March 2020. 

Investors are trying to assess how far stocks can fall and evaluate the risk the Fed’s aggressive rate hikes to curb high inflation could pose to the economy.  

Earlier this month, the S&P 500 fell more than 20% from its all-time high touched in January, confirming a bear market.  

By the close of trading, the Dow Jones Industrial Average was up 641.47 points, or 2.15%, at 30,530.25, while the S&P 500 was up 89.95 points, or 2.45%, at 3,764.79. The Nasdaq was up 270.95 points, or 2.51%, at 11,069.30.  

Energy stocks are the biggest gainer in the S&P 500 this year, jumping 5.1% after last week’s plunge. Every sector was up at least 1%. Giants such as Apple, Tesla and Microsoft all rose sharply, becoming the stocks that gave the S&P 500 the biggest boost. Apple rose 3.3 percent, Tesla Inc. jumped 9.4 percent and Microsoft rose 2.5 percent.  

Technical Analysis: 

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow focuses on the 30608-line today. If the Dow runs steadily below the 30608-line, it will pay attention to the support strength of the two positions of 30083 and 29767. If the Dow runs steadily above the 30608-line, it will pay attention to the suppression strength of the two positions of 31000 and 31291. 

Hong Kong Stocks 

Fundamental Analysis: 

Hong Kong stocks opened lower, with the Hang Seng Index (HSI) down 0.42%, the Hang Seng China Enterprises Index (HSCEI) down 0.56% and the Hang Seng TECH Index (HSTECH) down 0.48%.

On the disk, Chinese concept stocks performed well overnight, and Chinese concept stocks returned to Hong Kong generally opened higher. GDS Holdings Limited (9698.HK), NIO Inc. (9866.HK), and eiGene, Ltd. (6160.HK) all rose by more than 3%, and Baidu, Inc. (9888.HK) and NetEase, Inc. (9999.HK) all rose.

Pork concept stocks and shipping stocks rose higher, WH Group Limited (0288.HK) opened nearly 4% higher. Meanwhile, sporting goods stocks, power stocks, dairy products stocks, and mobile phone concept stocks all rose.

On the other hand, Internet medical stocks all fell, and gas stocks, insurance stocks, banking stocks, and property management stocks generally fell. New energy vehicle stocks rose, Li Auto Inc. (2015.HK) rose more than 4%, NIO Inc. (9866.HK) rose 3.6%, and XPeng Inc. (9868.HK) rose nearly 3%.

JD Health International Inc. (6618.HK) fell by more than 4%, and Alibaba Health Information Technology Limited (0241.HK) fell by nearly 3%. Mega Genomics Limited (6667.HK) opened more than 8% higher on its first day of listing. It is reported that Mega Genomics is a leading genetic testing platform company in China, focusing on consumer-grade genetic testing and cancer screening services.

According to Frost & Sullivan, the company is the largest consumer-grade genetic testing platform in China. In terms of the number of tests that have been carried out, the company’s market share exceeds 60%. In terms of revenue in the same year, the company’s market share is 34.2%, ranking first in China.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 focuses on the 20614-line today. If HK50 can run stably above the 20614-line, then pay attention to the suppression strength of the 21450 and 22127 positions. If the HK50 runs below the 20614-line, then pay attention to the support strength of the 19517 and 18606 positions.

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 steadily 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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