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Real-time News
February 9th - Since the beginning of the year, the National Integrated Circuit Industry Investment Funds (Big Fund) share reduction activities in the semiconductor sector have continued to attract market attention. On the evening of February 8th, Anlu Technology announced that its shareholder, the first phase of the Big Fund, plans to reduce its holdings by no more than 2% of the companys total share capital within the next three months. This marks the third time Anlu Technology has faced a share reduction plan from the Big Fund since 2025. Meanwhile, several other semiconductor companies, including Shanghai Silicon Industry, Telink Microelectronics, and Huizhi Microelectronics, have also recently disclosed the latest progress or plans for share reduction by the Big Fund. Based on the information released, both the first and second phases of the Big Fund have conducted share reduction operations, involving mostly listed semiconductor industry chain companies. Despite the frequent share reductions in the short term, industry insiders generally believe that this is a normal investment exit behavior for the Big Fund as an industry investment fund, and its long-term strategic direction of accompanying industry growth and supporting domestic substitution remains unchanged.On February 9th, KSTAR announced that its controlling shareholder, Ningbo KSTAR Venture Capital Partnership (Limited Partnership), plans to reduce its holdings of the companys shares by no more than 5.8222 million shares, representing 1% of the companys total share capital, within three months after 15 trading days from the date of the announcement, through block trades or centralized bidding. The reason for the reduction is its own funding needs; the shares are from shares issued before the initial public offering and shares transferred through equity distribution.TD Cowen: Lowered its target price for Estée Lauder (EL.N) from $130 to $115.AMC Theatres (AMC.N) has filed for listing hybrid securities.February 9th - Morgan Stanley strategists stated that the hype surrounding artificial intelligence (AI) supports a strong sales outlook, and US tech stocks are poised for further gains. The team, led by Michael Wilson, noted that revenue growth expectations for large-cap tech stocks have reached "decade-high levels," while valuations have declined following recent market volatility. Meanwhile, the plunge in software stocks has created "attractive entry points" for companies like Microsoft and Fiat Group. The report stated, "Situations like last week are not uncommon during major investment cycles. Nevertheless, the fundamental tailwinds for AI-enabled sectors remain, and we believe the value of AI application stocks is still not fully recognized by the market."

S&P 500 (SPY) Moves Towards 3900 As Chip Stocks Retreat

Alice Wang

Sep 02, 2022 14:52

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Stocks fell towards the 3900 mark as a result of concerns about the Fed's aggressive rate rises and the sale of advanced chips to China being prohibited by the United States.


The U.S. dollar reached new highs as a result of the positive ISM Manufacturing PMI report. The yield on Treasury bonds has also increased. According to the FedWatch Tool, there is a 76% chance that the next meeting will result in a 75 basis point rate increase, which is bad news for the stock market.


Interestingly, RSI is still in the moderate range despite the significant drop, suggesting that there is still opportunity for more downward momentum in the future trading days.


The S&P 500 will go toward the next support level at 3875 if it is able to settle below the support at 3915. If the S&P 500 drops below this level, it will be forced toward the 3830 support level.


The previous support level at 3950 will act as the first resistance level for the S&P 500 on the upside.


The S&P 500 will go toward the barrier at 3980 if it is able to stabilize again above this level.

Trades In Defensive Sectors Show Some Interest

Because of concerns that the U.S. export prohibition would significantly hurt the company's sales, NVIDIA stock is down roughly 12%. AMD's decline is 7%. The pricey and complex processors used in AI development are the focus of the prohibition.


The market is concerned that other limitations may be imposed in the future and that the ban is just the start of a multi-year campaign against China's high-tech capabilities.


Chinese equities like Alibaba and NIO have come under significant pressure as ties between the U.S. and China continue to worsen.


The prices of top tech companies like Apple, Microsoft, and Alphabet are also declining today.


After the sharp drop, investors are looking for safe-haven investments, and while equities like Johnson & Johnson, Walmart, and Philip Morris are rising, they are doing so.


The trading patterns of these equities should be monitored by traders since their recovery may indicate that following the sell-off in the S&P 500, buyers' interest is increasing.

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