U.S. Stocks
Fundamental Analysis:
U.S. stocks fell on Monday, 10th October 2022, with the Nasdaq hitting its lowest closing point since July 2020, as investors worried about the impact of rising interest rates.
Nvidia fell 3.4%, while Qualcomm, Micron and Supermicro Semiconductor closed lower.
Investors are also cautious ahead of the start of the U.S. third-quarter earnings season, which kicks off on Friday with some major banks reporting quarterly results that day.
Estimates for third-quarter results have fallen in recent weeks. Year-over-year earnings for S&P 500 companies are now expected to rise 4.1% in the quarter, compared with expectations of an 11.1% increase in early July, according to IBES data from Lufthansa.
Microsoft’s 2.1% decline was one of the biggest drags on the three indexes. Technology stocks and energy stocks in the S&P 500 led the sectors lower.
Investors are still waiting for this week’s U.S. inflation data. The U.S. Treasury market was closed Monday for the Columbus Day holiday.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow focuses on the 29204-line today. If the Dow runs steadily above the 29204-line, it will pay attention to the suppression strength of the two positions of 29538 and 29767. If the Dow runs steadily below the 29204-line, it will pay attention to the support strength of the two positions of 28809 and 28495.
Hong Kong Stocks
Fundamental Analysis:
Overnight, the U.S. Nasdaq hit a new low of over two years, and Chinese stocks sank across the board.
Hong Kong stocks opened lower again, with the Hang Seng Index (HSI) down 0.13%, the Hang Seng China Enterprises Index (HSCEI) down 0.22% and the Hang Seng TECH Index (HSTECH) down 0.71%.
On the market, large technology stocks continued to fall, with JD.com, Inc. (9618.HK) down 2%, Baidu, Inc. (9888.HK) down 1.7%, Tencent Holdings Limited (0700.HK), Alibaba Group Holding Limited (9988.HK), Bilibili Inc. (9626.HK) down 6%, and Kuaishou Technology (1024.HK) were all down.
Auto stocks fell more than the trend, with new energy auto stocks leading the decline.
Yesterday’s big drop in semiconductor stocks continued to fall, building materials and cement stocks, gas stocks, tourism stocks, home appliances stocks fell.
On the other hand, biotech stocks partially strengthened, shipping stocks and retail stocks mostly rose, and a few sporting goods stocks that plunged yesterday rebounded.
Technical Analysis:
(HK50, 1-hour chart)
Execution Insight:
HK50 focuses on the 18606-line today. If HK50 can run stably above the 18606-line, then pay attention to the suppression strength of the 19517 and 20467 positions. If the HK50 runs below the 18606-line, then pay attention to the support strength of the 17535 and 16664 positions.
FTSE China A50 Index
Technical Analysis:
(FTSE China A50, 1-hour chart)
Execution Insight:
FTSE China A50 pays attention to the 12733-line today. If the A50 runs steadily below the 12733-line, pay attention to the support strength of the two positions of 12533 and 12253. If the A50 runs above the 12733-line, it will open up further upward space. At that time, pay attention to the two positions of 12945 and 13157.
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