The Economic Daily reported on the 20th: Before the release of tech company earnings, stock movements were volatile. Last Friday (16th), the entire board faced strong selling pressure, with the VIX fear index spiking to 22 at one point, dragging down US stocks. However, on Monday, funds took advantage of lower prices to buy in. Individual stocks such as Intel (US.INTC) and CoreWeave (US.CRWV) were upgraded by major brokerages, leading a general recovery in tech and chip stocks. The Nasdaq rose 290 points to 26,430, the S&P gained 31 points to 7,690, but the Dow Jones still fell 36 points to 51,966.
China概念股 remained soft: Alibaba dropped 0.49% to $108.57, Pinduoduo rose 0.52% to $81.39, JD.com fell 0.85% to $26.78, Baidu declined 0.45% to $79.78, Li Auto dropped 0.44% to $11.29, NIO fell 1.17% to $3.39, XPeng decreased 0.22% to $9.21, Beike declined 0.89% to $17.91, Trip.com dropped 1.05% to $39.59.
*Bearish positions increased, yet the Hong Kong market lacks upward momentum, expected to continue range-bound trading*
Despite the rebound in US stocks, Asian markets continued to decline on Tuesday, with Japanese stocks falling about 1% and South Korean stocks dropping 3%. The Hong Kong market followed under pressure. The Singapore HS50 index, which reflects expectations for Hong Kong market performance (known as "Black Futures"), currently stands at 23,990, down 161 points, 196 points lower than the closing level of the Hang Seng Index last Friday, suggesting the Hang Seng Index is likely to open about 200 points lower.
The sharp drop in US stocks last Friday, despite a partial rebound overnight, has not fully recovered. The Hong Kong market is expected to first reflect previous losses. Referring to the distribution of outstanding bull and bear warrants on the Hang Seng Index, last Friday's initial rise followed by a pullback attracted bears to increase positions. The total net increase in bearish warrants amounted to 522 corresponding futures contracts, with the range of 24,600 to 24,699 becoming the area with the highest new accumulation and heaviest concentration, increasing net by 329 corresponding futures contracts to 1,237 contracts. This level is likely the key bearish position point currently. However, the 20-day moving average below, around 24,400, would act as significant resistance. No breakout signals are yet visible in the trading range of 23,800 to 24,500 for the Hang Seng Index. (hc)
China概念股 remained soft: Alibaba dropped 0.49% to $108.57, Pinduoduo rose 0.52% to $81.39, JD.com fell 0.85% to $26.78, Baidu declined 0.45% to $79.78, Li Auto dropped 0.44% to $11.29, NIO fell 1.17% to $3.39, XPeng decreased 0.22% to $9.21, Beike declined 0.89% to $17.91, Trip.com dropped 1.05% to $39.59.
*Bearish positions increased, yet the Hong Kong market lacks upward momentum, expected to continue range-bound trading*
Despite the rebound in US stocks, Asian markets continued to decline on Tuesday, with Japanese stocks falling about 1% and South Korean stocks dropping 3%. The Hong Kong market followed under pressure. The Singapore HS50 index, which reflects expectations for Hong Kong market performance (known as "Black Futures"), currently stands at 23,990, down 161 points, 196 points lower than the closing level of the Hang Seng Index last Friday, suggesting the Hang Seng Index is likely to open about 200 points lower.
The sharp drop in US stocks last Friday, despite a partial rebound overnight, has not fully recovered. The Hong Kong market is expected to first reflect previous losses. Referring to the distribution of outstanding bull and bear warrants on the Hang Seng Index, last Friday's initial rise followed by a pullback attracted bears to increase positions. The total net increase in bearish warrants amounted to 522 corresponding futures contracts, with the range of 24,600 to 24,699 becoming the area with the highest new accumulation and heaviest concentration, increasing net by 329 corresponding futures contracts to 1,237 contracts. This level is likely the key bearish position point currently. However, the 20-day moving average below, around 24,400, would act as significant resistance. No breakout signals are yet visible in the trading range of 23,800 to 24,500 for the Hang Seng Index. (hc)
