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On January 16th, Shichuang Energy announced that it expects to achieve a net profit attributable to owners of the parent company of -358 million yuan to -298 million yuan in 2025, a reduction in losses of 291 million yuan to 351 million yuan compared to the same period last year, representing a year-on-year reduction in losses of 44.83% to 54.08%. It also expects to achieve a net profit attributable to owners of the parent company of -388 million yuan to -328 million yuan in 2025, a reduction in losses of 274 million yuan to 334 million yuan compared to the same period last year, representing a year-on-year reduction in losses of 41.40% to 50.46%. While new photovoltaic installations are expected to continue to grow in 2025, the imbalance between supply and demand in the industry remains prominent. During this period of deep industry adjustment, the company has consistently adhered to interdisciplinary integrated R&D and driven development through independent innovation. During the reporting period, sales of photovoltaic cells and equipment increased, leading to increased sales revenue. In addition, based on the principle of prudence, an asset impairment provision was made for the equipment related to 2GWPERC silicon wafers and cells in the same period last year, which had a certain adverse impact on the net profit in the same period last year.On January 16, Rongsheng Development issued a performance forecast, expecting the companys net profit attributable to shareholders of the listed company to be negative in 2025. The companys operating performance in 2025 will show a loss, but the amount of loss is not expected to exceed the unaudited net assets at the end of the previous year. The companys net assets at the end of 2025 are expected to be positive.On January 16, the China Securities Regulatory Commission (CSRC) held its 2026 system-wide work conference. The conference emphasized upholding the principle of strengthening the capital markets domestic market presence and promoting deeper and higher levels of two-way opening up. It stressed expediting the implementation of optimized schemes for qualified foreign investors, expanding the scope of openness for specific futures products, and improving the convenience of cross-border investment and financing. The conference also called for improving regulations and systems for overseas listings, enhancing the standardization and transparency of filing management, strengthening regulatory and risk prevention capabilities in an open environment, and actively participating in international financial governance.On January 16, the China Securities Regulatory Commission (CSRC) held its 2026 system-wide work conference. The conference emphasized the need to continuously improve the standardized operation of listed companies, accelerate the promulgation of regulations governing listed companies, fully implement the newly revised corporate governance guidelines, strengthen constraints on the behavior of controlling shareholders and actual controllers, and improve institutional arrangements such as dividend repurchases, equity incentives, and employee stock ownership. It also stressed the importance of stimulating the vitality of the mergers and acquisitions market, improving the supervision of the entire restructuring chain, and taking multiple measures to promote the high-quality development of listed companies.Japanese Finance Minister Satsuki Katayama: We have not yet received any inquiries from the Bank of Japan regarding the joint statement from other central banks supporting Powell.

E-mini NASDAQ-100 Index: Steep Sell-off Puts 12179.50 on Radar

Skylar Shaw

May 06, 2022 11:10

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June E-mini NASDAQ-100 Index futures are down dramatically late in the session on Thursday, erasing the preceding session's rise in a shocking reversal that extends the market's losses in 2022. The move followed a significant stock market gain on Wednesday, with the NASDAQ Composite cash index rising 3.19 percent.


June E-mini NASDAQ-100 Index futures were trading at 12738.75 at 19:19 GMT, down 792.50 or -5.86 percent. The Invesco QQQ Trust ETF (QQQ) is down $19.08, or -5.79 percent, to $310.52.


Investor concerns that the Federal Reserve's rate rise would not be enough to keep inflation under control, requiring the Fed to become more aggressive, sparked the sell-off.


Large tech stocks were under pressure, with Meta Platforms, which is owned by Facebook, and Amazon falling 5.8% and 7.1 percent, respectively. Microsoft's stock fell 4.7 percent.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The return of the decline will be signaled by a trade through 12709.75. The primary trend will turn to up if 13555.25 is crossed.

13583.75 to 12709.75 is the minor range. The market is now trading below its pivot around 13146.75, which is the closest barrier.

Short-Term Prospects

Trader response to the pivot at 13146.75 will decide the direction of the June E-mini NASDAQ-100 Index into Thursday's closing.

Bearish Prospects

The presence of sellers will be shown by a persistent move below 13146.75. Look for a test of the major bottom around 12709.75 if this develops enough negative momentum.


Taking out 12709.75 might set off a sell-off, with the primary bottom at 12179.50 on March 5, 2021 being the next significant target.

Positive Outlook

Late in the session, overtaking the pivot at 13146.75 will signify the return of buyers. This might result in a price increase from 13555.25 to 13583.75. If this region is broken, an acceleration to the upside is possible, with 13989.25 being the next major upside objective.