Friday Market Recap
US stock market closed mixed on Thursday, with tech stocks leading the decline. Apple and Tesla weighed heavily on the Nasdaq, pulling it down by 170 points. Investors kept a close eye on major bank earnings, as well as economic data showing lower-than-expected retail sales growth and higher-than-anticipated jobless claims.
Bank Earnings:
- Bank of America reported earnings and revenue that beat expectations, with robust performance in the previous quarter.
- Morgan Stanley also exceeded forecasts, driven by strong investment banking and fixed-income trading revenue.
- On Wednesday, major financial institutions like JPMorgan Chase and Goldman Sachs similarly delivered better-than-expected results for Q4.
Economic Data:
- Retail Sales: December retail sales rose 0.4% month-over-month, below the 0.6% forecast but revised upward from the previous month’s 0.8% gain.
- Analysts noted that while retail growth missed expectations, broad-based gains across 10 of 13 categories—such as furniture and sporting goods—signaled strong consumer demand.
US Stock Market Highlights
- Tech Stocks: Major tech companies fell collectively, with Apple down over 4%, Tesla off 3%, and NVIDIA losing over 1%.
- M&A Buzz: Rio Tinto dipped nearly 1% amid rumors of merger discussions with Glencore.
- Semiconductors: TSMC rose nearly 4% after reporting a 57% year-on-year surge in Q4 net profits.
- Chinese Stocks: Most Chinese ADRs climbed, with Douyu soaring over 27% following board approval of a $9.94/share special cash dividend.
Technical Analysis of US Market
Market Recap
- Dow Jones: -68.42 points (-0.16%), 43,153.13
- Nasdaq: -172.94 points (-0.89%), 19,338.29
- S&P 500: -12.57 points (-0.21%), 5,937.34
Hong Kong Market Highlights
Hong Kong’s three main indices closed mixed:
- Tech Stocks: Mixed performance, with JD.com gaining over 4%, Xiaomi rising nearly 1%, while Tencent and Baidu slid about 8%.
- Semiconductors: Semiconductor stocks rallied, led by SMIC’s surge of over 10%.
- Real Estate: Selective losses in property stocks, with Vanke Enterprise tumbling over 6% following reports that its CEO, Zhu Jiusheng, was detained by authorities.
Technical Analysis of Hong Kong Market
Market Recap
- Hang Seng Index: +0.17%, 19,556.82
- Hang Seng Tech Index: +1.26%, 4,473.03
- Hang Seng China Enterprises Index: -0.10%, 7,091.48
A50 & China A-Share Market Highlights
Chinese A-shares exhibited light trading, with indices maintaining narrow-range fluctuations:
- Advancers: Bluetooth SoC chips, non-metal materials, analog chips, and pet-related stocks led gains.
- Decliners: ByteDance hardware, Huawei Pangu, cosmetics, toys, and supermarket chains faced selling pressure.
Technical Analysis of China Market
Market Recap
- Shanghai Composite: +0.4%, 3,248.9
- Shenzhen Component: +0.68%, 10,170.12
- ChiNext Index: +0.74%, 2,066.5
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Disclaimer
This information contained in this blog is for general reference only and is not intended as investment advice, a recommendation, an offer, or an invitation to buy or sell any financial instruments. It does not consider any specific recipient’s investment objectives or financial situation. Past performance references are not reliable indicators of future performance. Doo Prime and its affiliates make no representations or warranties about the accuracy or completeness of this information and accept no liability for any losses or damages resulting from its use or from any investments made based on it.
The above strategies reflect only the analysts’ opinions and are for reference only. They should not be used or considered as the basis for any trading decisions or as an invitation to engage in any transaction. Doo Prime does not guarantee the accuracy or completeness of this report and assumes no responsibility for any losses resulting from the use of this report. Do not rely on this report to replace your independent judgment. The market is risky, and investments should be made with caution.
