The U.S. stock market was closed last Friday (March 29, 2024) for Good Friday. This week, key events include the U.S. March non-farm payroll report and numerous speeches by Federal Reserve officials. 

Key focuses this week are on China’s March Caixin Manufacturing PMI, the U.S. March non-farm data, ISM manufacturing and services PMI data, and Europe’s March CPI announcement.  

Additionally, quarterly delivery reports from automakers like Tesla, financial results from Guizhou Moutai, an OPEC+ ministerial meeting, and speeches by several high-ranking officials including Federal Reserve Chair Jerome Powell, will be closely watched. 

Arnaud Cayla, Deputy CEO of Cholet Dupont Asset Management, commented, “Optimism is surging, mainly due to central banks reassuring about upcoming rate cuts. Investors have no reason to sell off.” 

U.S. Stock Market

The U.S. stock market was closed on March 29th (last Friday) for Good Friday and will resume normal trading on April 1st (Monday). 

Hong Kong Stock Market

Affected by the Good Friday and Easter holidays, the Hong Kong stock market was closed on March 29 and April 1, resuming normal trading on April 2 (Tuesday). 

FTSE China A50 Index

Fundamental Analysis: 

The three major indices of Chinese A-shares opened higher, with early trading showing fluctuating upward trends.  

The Shanghai Composite Index saw an increase of 1%, while the Shenzhen Component Index and the ChiNext Index both surged by over 2%. 

In terms of industry sectors, energy metals, optoelectronics, electronic chemicals, complete automobiles, batteries, and airports led the gains.  

Meanwhile, a few sectors such as coal and road & rail transport experienced declines, and mining, electricity, utilities, and shipping & ports saw smaller gains.  

Active themes included OLED, lithium batteries, solid-state batteries, composite busbars, smart light poles, and Xiaomi automobiles. 

Technical Analysis:  

(SSE Composite Index, 1-day chart) 

Market Trends: 

• Shanghai Composite Index (SHCOMP) rose by 1.02%, closing at 3,072.29 points. 
• Shenzhen Component Index (SZCOMP) increased by 2.35%, closing at 9,621.9 points. 
• ChiNext Index (CHINEXT) rose by 2.63%, closing at 1,865.97 points. 
• SSE Sci-Tech Innovation 50 Index rose by 1.62%, closing at 775.09 points. 

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