U.S. Stocks
Fundamental Analysis:
U.S. stocks rose yesterday, ending a three-day losing streak after oil prices fell again. Meanwhile, U.S. producer prices rose less than expected, helping to ease investor concerns about inflation as the focus shifted to the Federal Reserve’s upcoming policy statement.
Brent crude oil prices settled below $100 on Tuesday, 15th March 2022, after rising through $139 per barrel last week, which gave stock market investors a temporary sigh of relief.
Stocks have been under pressure so far this year due to rising inflation concerns, uncertainty over the path of the Federal Reserve’s policy to curb price increases and the recent escalation of the conflict in Ukraine.
As of Tuesday’s close, the Dow Jones Industrial Average rose 599.1 points, or 1.82%, to 33544.34. The S&P 500 rose 89.34 points, or 2.14%, to 4262.45 and the Nasdaq rose 367.40 points, or 2.92%, to 12948.62.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow focuses on the 32781-line today. If the Dow runs steadily above the 32781-line, it will pay attention to the suppression of the 33584 and 34088 positions. If the Dow breaks below the 32781-line, it will pay attention to the support strength of the 32455 and 32083 positions.
Hong Kong Stocks
Fundamental Analysis:
Overnight, China stocks finally saw a rebound. Hong Kong stocks, which have fallen in a row, opened higher across the board. The Hang Seng Index (HSI) rose 2.94%, the Hang Seng China Enterprises Index (HSCEI) rose 3.83%, while the Hang Seng TECH Index (HSTECH) rose 6.26%, after a record low.
On the market, the large technology stocks that have plummeted collectively opened higher. JD.com, Inc. (9618.HK) rose more than 12%, Meituan (3690.HK), Kuaishou Technology (1024.HK), NetEase, Inc. (9999.HK) rose more than 7%, Tencent Holdings Limited (0700.HK) rose nearly 6%.
Stocks for sectors including the F&B, dairy, automobile, gas, sporting goods, real estate and property management, which had fallen sharply before, rebounded and rose.
Smoore International Holdings Limited (6969.HK), Jiumaojiu International Holdings Limited (9922.HK), and XPeng Inc. (9868.HK) are up by more than 11%.
On the other hand, only a few power stocks, oil stocks, and sporting goods stocks continue to fall, and Li Ning Company Limited (2331.HK) fell by more than 3%.
The Covid-19 oral treatment drug strengthen obviously, leading Brii Biosciences Limited (2137.HK) and Ascletis Pharma Inc. (1672.HK) to rise sharply.
Possibly stimulated by the inclusion of two specific Covid-19 oral treatment drugs in the latest diagnosis and treatment plan, the Hong Kong stock market for Covid-19 oral treatment drugs related stocks collectively opened higher.
Among them, Brii Biosciences Limited (2137.HK) rose nearly 15%, Ascletis Pharma Inc. (1672.HK) rose 10%, Kintor Pharmaceutical Limited (9939.HK) rose more than 5%, Shanghai Junshi Biosciences Co., Ltd. (1877.HK) rose more than 4%, Simcere Pharmaceutical Group Limited (2096.HK) rose more than 3%.
The National Health Commission of China yesterday released the “Diagnosis and Treatment Protocol for Novel Coronavirus Pneumonia (Trial Version 9)”.
The China National Medical Products Administration approved two specific treatments of Covid-19: PAXLOVID (PF-07321332/ritonavir) and the monoclonal antibody (mAb) therapy: the amubarvimab/romlusevimab combination into the diagnosis and treatment program.
During this interval, Sino Biopharmaceutical Limited (1177.HK) rose by nearly 8% and is expected to increase its net profit attributable to its parent company by more than four times last year.
Technical Analysis:
(HK50, 1-hour chart)
Execution Insight:
HK50 Index focuses on the 18606-line today. If HK50 can run stably above the 18606-line, then pay attention to the suppression strength of the two positions of 19517 and 20467. If the HK50 runs below the 18606-line, then pay attention to the support of the 17535-line.
FTSE China A50 Index
Technical Analysis:
(FTSE China A50, 1-hour chart)
Execution Insight:
FTSE China A50 pays attention to the 13371-line today. If the A50 runs steadily above the 13371-line, then pay attention to the suppression strength of the 13983 and 14669 positions. If the A50 runs below the 13371-line, it will open up further downside trend. At that time, pay attention to the support of the 12791-line.
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Disclaimer
While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.
