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Lexin Outdoor (02720.HK) opened more than 96% higher on its first day of trading in Hong Kong, at HK$24.02 per share.February 10th - Tencent Wealth Managements current account + 7-day annualized yield ranges from a high of 1.5020% to a low of 0.8300%, WeChat Pays 7-day annualized yield ranges from a high of 1.1890% to a low of 1.0280%, and Alipays Yuebaos 7-day annualized yield ranges from a high of 1.12390% to a low of 1.0070%.On Tuesday, February 10, the Hong Kong Hang Seng Index opened 175.8 points higher, or 0.65%, at 27,202.96; the Hang Seng Tech Index opened 44.36 points higher, or 0.82%, at 5,461.96; the H-share Index opened 58.23 points higher, or 0.64%, at 9,226.56; and the Red Chip Index opened 5.7 points higher, or 0.13%, at 4,401.19.Hong Kong stocks opened higher, with the Hang Seng Index up 0.65% and the Tech Index up 0.82%. Zijin Mining (02899.HK) rose nearly 3%, Pop Mart (09992.HK) and NetEase (09999.HK) both rose more than 2.3%, and JD.com (09618.HK), Alibaba (09988.HK), and SMIC (00981.HK) all rose more than 1.1%.On February 10th, the State Administration for Market Regulation (National Standardization Administration) approved and released a batch of important national standards covering emerging fields, transportation and logistics, ecological and environmental protection, work safety, and peoples livelihoods. These standards will play a significant role in improving the quality of life and protecting the safety of life and property. In emerging fields, five national standards were released, including those for brain-computer interfaces and digital twins, clarifying basic specifications such as reference frameworks and data formats to support high-quality development in cutting-edge technologies. Forty-seven national standards were released, including those for aluminum nitride single-crystal polished wafers and carbon fiber reinforced composite materials, to support the innovative development of the new materials industry. Fifteen national standards for laboratory animals were released, including technical specifications for animal model identification and evaluation and methods for detecting dermatopathogenic fungi, to better support biotechnology research and application through laboratory animals.

S&P 500 (SPY) Tries To Gain More Ground Despite Powell’s Comments

Alice Wang

Sep 09, 2022 15:45

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S&P 500 Attempts To Maintain Its Rebound

As top tech companies are once again under pressure, the S&P 500 is fluctuating between gains and losses today. Amazon, Alphabet, and Apple are all down roughly 1%.


Today's traders concentrated on Fed Chair Jerome Powell's hawkish remarks, which emphasized the significance of the Fed's battle against inflation. Growth stocks suffered as a result of rising Treasury rates, which also placed some pressure on the S&P 500.


It should be observed that the financial and healthcare sectors both exhibit a noticeable increase in stock demand. Big banks like JP Morgan, Citigroup, and Morgan Stanley, for instance, are up today by approximately 2%.


S&P 500 retreated after failing to stabilize above the 4000 mark. The S&P 500 has found support around 3950 and resistance at 3980 at the moment. The S&P 500 will acquire further downward momentum and head toward the next support level at 3915 if it drops below the 3950 mark.


To the upside, the S&P 500 has to close above 4015 in order to have a chance of gaining long-term upward momentum. A rise over 4015 would pave the way for the 20 EMA at 4035, the next resistance level, to be tested.

Snap Rallies as Memo Highlights Ambitions for Growth

As a result of the market's response to the internal message that Snap CEO Evan Spiegel delivered, Snap is up more than 7% today. The corporation intends to increase the user base to 450 million by the end of the next year, the letter states.


Following the company's announcement of its new partnership with the cryptocurrency exchange FTX, Gamestop has also had some support today and tried to settle over the $26 mark. It remains to be seen if the new crypto relationship will increase interest in the meme stock, since Gamestop stock has been under significant pressure over the last several weeks.


From a broad perspective, the market needs more triggers to keep bouncing back. Trading will probably continue to be quite volatile before the Fed decision, which will be announced on September 21. While traders look ready to buy stocks after the major pullback, the hawkish Fed may limit their appetite for risk.

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