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Hong Kong stocks opened higher, with the Hang Seng Index up 1.59% and the Tech Index up 1.9%. Innovent Biologics (01801.HK) opened more than 4.5% higher, while Baidu (09888.HK), China Life (02628.HK), and JD Health (06618.HK) opened more than 3% higher.On Monday, February 9th, the Hong Kong Hang Seng Index opened 422.54 points higher, or 1.59%, at 26,982.49; the Hang Seng Tech Index opened 101.43 points higher, or 1.9%, at 5,447.63; the H-share Index opened 139.19 points higher, or 1.54%, at 9,170.57; and the Red Chip Index opened 38.85 points higher, or 0.89%, at 4,399.55.The yield on Japans five-year government bonds rose 3 basis points to 1.715%.The yield on Japans two-year government bonds rose 1.5 basis points to 1.29%.On February 9th, Nan Hua Futures reported that a research report indicated the fundamentals for a platinum-palladium bull market remain intact in the medium to long term. It is expected that the Federal Reserve will maintain its loose monetary policy stance in the first half of 2026, and increased central bank gold purchases, safe-haven demand, and investment demand will continue to push precious metal prices higher. While the nomination of Walsh, a supply-side economist, as Fed Chair has raised concerns about a potential breakdown in the support logic for precious metals (as Fed balance sheet reduction boosts dollar credibility), the US lacks the conditions for producing another "Volcker" before a disruptive breakthrough in AI technology. Furthermore, there is a conflict between "Trumps urgent need to lower medium- and long-term interest rates under midterm election pressure" and "balance sheet reduction pushing up term premiums and driving up long-term interest rates." Although the Fed expanded its balance sheet at the end of December last year, resulting in marginal improvement in liquidity, narrow reserves remain low, and dollar liquidity is tighter than it has been since the pandemic. Under these multiple pressures, Walshs nomination has limited impact, and a trend of liquidity expansion is highly probable. Given the high volatility in platinum and palladium, position control is crucial. Due to the discontinuity between domestic and international trading sessions, the opening price of platinum and palladium often references the overnight trading session in other countries. Investors should pay attention to international market prices and be wary of opening gaps. (This content and opinion are for reference only and do not constitute any investment advice.)

NASDAQ ‘Technical Bounce’ Fails to Overcome Rate Hike Driven Selling Pressure

Cory Russell

Aug 30, 2022 15:06

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Monday's mid-session lows for the tech-weighted NASDAQ Composite are being met with lower activity. Earlier in the session, the index tried to reach a one-month low before recovering more than half of that loss. Investors' concerns about the Federal Reserve's intention to keep increasing interest rates in its battle against inflation, even at the expense of an economic downturn, are feeding the selling pressure.


Oversold technical conditions, a slight decline in U.S. Treasury yields from a steep price earlier in the session, and a weaker U.S. Dollar are likely behind today's rebound rally.


The NASDAQ Composite is at 12058.12 at 18:20 GMT, down 83.49 or -0.69%. Trading prices for the Invesco QQQ Trust are $305.50, down $1.94 or -0.63%.


The Federal Reserve Chairman Jerome Powell's succinct and direct statements in Jackson Hole, Wyoming, on Friday seemed to put an end to optimism that the central bank would reverse its aggressive pace of rate rises in the coming months, which led to a significant decline in the technology-driven index.

Moving NASDAQ Composite Stocks

After exceeding expectations in the most recent quarter's top and bottom lines, Pinduoduo increased by 18%. The massive Chinese e-commerce company said its performance were aided by a rebound in customer confidence.


The price of Netflix's ad tier might range from $7 to $9 per month, according to a Bloomberg story, which has led to a 1.1% increase in the company's stock price.


Following the announcement that U.S. merchants on its site would need to validate their bank accounts or provide their login and password to fintech company Plaid, Etsy saw a 1.2% increase in its stock price.

The near future

As Friday's U.S. Non-Farm Payrolls data and the beginning of a lengthy U.S. holiday weekend approach, volume is very low. Volume may continue to decline as the majority of the main players are anticipated to begin taking a back seat, creating the prospect of very violent price fluctuations that have little bearing on the short-term makeup of the market.

Breaking News Lately: Suit Against Tesla Is a Class Action

According to the complaint, a Tesla Model 3 owner from California sued the electric car manufacturer in a proposed class action for automobiles halting abruptly for inexistent barriers, calling it a "frightening and hazardous nightmare."

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