EUR/USD 1.16419
0.087%
Gold 4497.82
-0.214%
Oil 90.775
-1.810%
USD/JPY 159.282
-0.005%
GBP/USD 1.34541
0.055%
GBP/JPY 214.304
0.054%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Shares of CSPC Pharmaceutical Group (01093.HK) fell more than 10% in the afternoon, with the company’s first-quarter net profit down 41.8% year-on-year.On May 27, chip manufacturer UMC held its annual shareholders meeting. Chief Financial Officer Liu Qidong stated that with the expansion of its Singapore plant, costs are higher and the company faces significant challenges. Selective price increases will be implemented in the second half of this year, and in 2027, the company will conduct more comprehensive discussions with customers regarding price adjustments.The Hang Seng Index fell more than 1% in the afternoon, while the Hang Seng Tech Index fell 0.4%.On May 27th, the Reserve Bank of New Zealand (RBNZ) kept the Official Cash Rate (OCR) unchanged at 2.25%, but ANZ Bank stated that the RBNZ is "clearly very inclined to raise rates." The vote was a 3-3 tie, with RBNZ Governor Brehman casting the deciding vote. The released interest rate path chart shows that the OCR will rise faster than expected in February. ANZ Bank stated that the chart implies a very high probability of consecutive rate hikes at the RBNZs next three meetings. ANZ Banks Chief Economist for New Zealand, Sharon Zollner, said, "We still expect three rate hikes this year, in July, September, and October." She added, "We remain open to the possibility that the OCR needs to rise above 3%, but there are many variables to observe before that happens."On May 27th, CLSA issued a research report stating that NIO-SW (09866.HK) achieved non-GAAP profitability for the second consecutive quarter, with first-quarter non-GAAP profit reaching RMB 45 million, in line with market expectations. Regarding expenses, the group continued to demonstrate disciplined spending, reflecting the effectiveness of its operating expense control measures. Synergies between domestic models should increase NIOs market share in the luxury segment, with the ES8 and ES9 models diversifying its profit contribution. The bank forecasts sales of 441,000 vehicles in 2026 and a return to profitability for the full year. Based on NIOs strong performance in the luxury segment and improved expense control, CLSA raised its 2026 revenue and net profit forecasts by 18.9% and 104.1%, respectively, to RMB 133.48 billion and RMB 277 million. The bank maintained its "Outperform" rating on NIOs after-hours US-listed shares, raising its target price from $6 to $7. Meanwhile, the bank initiated coverage of NIOs H shares, giving them an "Outperform" rating and a target price of HK$55.

Stock Markets Continue to Threaten Support

Cory Russell

Sep 07, 2022 16:35

微信截图_20220907163002.png

Technical Analysis of the S&P 500

Early on Tuesday, the S&P 500 rose in the E-mini contract, but later gave up gains. You should pay special attention to this region since it might signal the start of a move to the downside. The 3900 level course is a big, circular, psychologically important number. The 3800 level and maybe even the 3650 level will then be the target if we do collapse. In the end, this market will continue to see sellers whenever there is weariness, and I do believe that the market will continue to see a great deal of volatility because people are undoubtedly anxious about the route the economy will go in the future.


You must closely monitor how events develop since American interest rates are still rising, which obviously reduces the value of the stock market as well. In the end, I believe that certain markets will continue to be "sell on the rise" scenarios. Because it is a huge, round number with psychological significance, the 4000 level above is far more meaningful than the 3900 level. You need to be concerned about the 50-Day EMA if we break above that level.


Since the 50-Day EMA is presently lower around the 4060 level, I do believe that the return of the selling is most likely just a matter of time. I just don't see how the S&P 500 will increase over the long run until the Federal Reserve changes its entire monetary policy and mindset. Having said that, we are a little oversold, so a little relief bounce might occur. I'll use it to my advantage.

Suggestion