U.S. stocks ended Monday higher after the S&P 500 index had experienced three consecutive days of declines.
Nvidia is set to host the GPU Technology Conference (GTC), while Apple aims to integrate Google’s Gemini AI into the iPhone.
Market attention is focused on this week’s Federal Reserve monetary policy meeting, with expectations that the Fed will keep rates unchanged, and Powell will reiterate a cautious stance.
The two-day Federal Reserve monetary policy meeting this week is in the market’s spotlight, commencing on Tuesday and announcing results on Wednesday.
U.S. Stocks
Fundamental Analysis:
Large-cap tech stocks surged, with Tesla up over 6%, marking its largest single-day gain this year, as the company raised Model Y prices in some European regions.
Google rose over 4%, while Apple is in talks to incorporate Google’s Gemini AI engine into the iPhone.
Meta and Netflix gained over 2%, Oracle rose nearly 2% to hit another closing high, and Amazon, Microsoft, and Apple saw marginal gains.
However, Advanced Micro Devices (AMD) fell over 6% on its first inclusion in the S&P 500 index.
Popular Chinese stocks saw mixed movements, with the Nasdaq Golden Dragon China Index falling by 0.63%.
Futu Holdings surged over 5%, Pinduoduo rose over 4%, and Xpeng and JD.com were up over 1%. However, Ideal Auto plunged over 12%, while Weibo fell over 4% and Manbang dropped over 3%. Netease and iQIYI saw declines of over 1%.
Technical Analysis:
(S&P 500 Index, 1-day chart)
Market Trends:
- Nasdaq rose by 130.27 points, up 0.82% to 16,103.45 points.
- Dow Jones Industrial Average (DJIA) increased by 75.66 points, up 0.20% to 38,790.43 points.
- S&P 500 index gained 32.33 points, up 0.63% to 5,149.42 points.
Hong Kong Stock Market
Fundamental Analysis:
Hong Kong stocks witnessed a collective adjustment on Monday.
Technology and internet stocks saw declines, with Bilibili and Netease falling by over 2%.
The automotive sector also experienced a significant downturn, with Ideal Auto plunging by over 9% and Lixiang Auto and Nio both dropping by 6%.
Shares related to the biopharmaceutical industry also declined, with WuXi AppTec falling by over 6% and WuXi Biologics by nearly 5%.
Automotive stocks were hit hard, led by Ideal Auto. According to reports, half a month has passed since the release of MEGA, but Ideal has not disclosed the order data for the MEGA and L series.
Ideal’s expected orders for MEGA within 24 hours were around 3,000 units, but the actual results fell short of expectations, achieving only half of the target.
Technical Analysis:
(Hang Seng Index, 1-day chart)
Market Trends:
- Hang Seng Index (HSI) fell by 1.11% to close at 16,550.90 points.
- Hang Seng Tech Index (HSTECH) dropped by 1.77% to close at 3,530.44 points.
- Hang Seng China Enterprises Index (HSCEI.) declined by 1.04% to close at 5,787.25 points.
FTSE China A50 Index
Fundamental Analysis:
In early trading, the three major A-share indexes opened lower.
After the first hour of trading, the indexes collectively fluctuated and rebounded, with the Shenzhen Component Index and the Shanghai Composite Index turning red successively. However, the market soon weakened again.
In terms of industry sectors, coal, animal husbandry, fishing, petroleum, and steel sectors saw gains, while diversified finance, securities, medical services, instrumentation, and engineering machinery sectors faced declines.
Themes such as chicken, pork, short interactive games, low-altitude economy, BeiDou navigation, and star flash remained active.
Technical Analysis:
(SSE Composite Index, 1-day chart)
Market Trends:
- Shanghai Composite Index (SHCOMP) fell by 0.9% to close at 3,073.03 points.
- Shenzhen Component Index (SZCOMP) dropped by 0.24% to close at 9,729.4 points.
- ChiNext Index (CHINEXT) declined by 0.65% to close at 1,913.86 points.
- SSE Sci-Tech Innovation 50 Index fell by 0.93% to close at 817.75 points.
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