U.S. Stocks
Fundamental Analysis:
U.S. stocks extended their streak of gains on Monday, 12th September 2022, closing sharply higher as investors await key inflation data that could provide clues to the duration and aggressiveness of the Federal Reserve’s tightening policy.
Energy and technology stocks helped the three major U.S. stock indexes touch two-week highs and rise for a fourth straight session, with growth stocks slightly more favored than value stocks.
All 11 major sectors of the S&P 500 closed higher. Energy stocks, buoyed by higher crude oil prices, posted the largest percentage gains.
Economically sensitive transportation stocks outperformed the broader market, with the leading large-cap stocks providing the biggest boost.
Apple shares jumped 3.9%, giving the biggest boost to the S&P 500 and Nasdaq after the company unveiled its latest iPhone and AppleWatch last week.
Shares of drugmaker Bristol-Myers Squibb rose 3.1% after the U.S. Food and Drug Administration (FDA) approved its psoriasis drug late on Friday.
Amgen, the maker of another psoriasis drug, slipped 4.1%.
Twitter closed down 1.8% as it embarked on a legal dispute with Tesla CEO Musk over the cancellation of a deal to buy the social media platform.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow is focused on the 32455-line today. If the Dow runs steadily above the 32455-line, it will pay attention to the suppression strength of the two positions of 32781 and 32975. If the Dow runs steadily below the 32455-line, it will pay attention to the support strength of the two positions of 31995 and 31661.
Hong Kong Stocks
Fundamental Analysis:
U.S. stocks experienced a technical rebound last week, but short-term pressure from the policy is still greater.
The Federal Reserve’s economic brown paper pointed out that the current inflationary pressure in the United States will continue at least until the end of the year.
Fed Chairman Jerome Powell recently made “hawkish” remarks, the market is expected to be held at the end of September on the Fed’s interest rate meeting will continue to aggressively raise interest rates.
From the perspective of Hong Kong stock funds, there are two positive signals.
First, the last two weeks southbound capital flow show accelerated net buying trend.
Last week, the cumulative net buying scale reached 4.535 billion Hong Kong dollars, a record high in the last five weeks.
Among them, the net buying scale was as high as HK$2.884 billion last Monday.
Second, the movement of HSI CBBC funds flow can be seen from the market capital’s attitude towards the Hong Kong stock market.
In the past 5 trading days up to last Thursday, HSI bull CBBCs received a total net inflow of about 380 million HKD, while HSI bear CBBCs had a cumulative net outflow of about 100 million HKD for cash.
This shows that market funds are generally bullish on the future market, with obvious signs of low layout.
Technical Analysis:
(HK50, 1-hour chart)
Execution Insight:
HK50 focuses on the 19517-line today. If HK50 can run stably above the 19517-line, it will pay attention to the suppression strength of the 20467 and 21450 positions. If the HK50 runs below the 19517-line, it will pay attention to the support strength of the 18606 and 17535 positions.
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 12945 and 12733. 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 13544 and 13887.
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