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On January 9th, a research report from CITIC Securities stated that the Hang Seng Composite Index will undergo a new round of review on February 13th, with the adjustments officially taking effect on March 9th. The Hong Kong Stock Connect will also be adjusted accordingly. We expect 38 stocks to be included in the Hong Kong Stock Connect, with information technology, healthcare, materials, and consumer discretionary sectors having higher market capitalization weightings. A-shares and H-shares do not need to wait for periodic adjustments; they can be directly included in the Hong Kong Stock Connect after a price stabilization period. Therefore, one stock may have already been included before March 9th. We also suggest investors pay attention to timing opportunities between the Hang Seng Composite Index announcement date and the Hong Kong Stock Connect effective date. Furthermore, since some arbitrage funds may position themselves before the Hong Kong Stock Connect takes effect, while passive funds often adjust their positions on the trading day before the effective date, some less liquid stocks may experience a surge in trading volume at the end of the day.Market news: South Korean President Lee Jae-myung will visit Japan from January 13 to 14.US Treasury Secretary Bessenter: We will not force institutional investors to withdraw from real estate investments.According to the Wall Street Journal, Nvidia (NVDA.O) has hired Google veteran Alison Wagonfeld as its first chief marketing officer.On January 9th, German Chancellor Merz stated on January 8th that the proposed formation of a "multinational force" to be deployed to Ukraine after a ceasefire between Russia and Ukraine would not be feasible without Russias consent. Merz made these remarks after attending a closed-door meeting of the Christian Social Union (CSU) in Bavaria, southern Germany. He noted that the leaders of Germany, France, and the United Kingdom agreed in December to sign a memorandum of understanding with Ukraine regarding the deployment of troops, but this involved security guarantees for Ukraine after a ceasefire agreement. Merz emphasized that a ceasefire must be achieved first, followed by security guarantees for Ukraine and a long-term agreement with Russia; this order must be followed. All of the above would be impossible without Russias consent.

Crypto Market Daily Highlights: BTC Delivered Market Support

Skylar Shaw

Mar 06, 2023 17:01

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The bitcoin top ten had a varied practice on Sunday. XRP, BNB, and ETH suffered, while MATIC topped the list of ten. In spite of the positive session, Bitcoin missed $23,000 for the second day in a row.


On Sunday, there were no crypto-related activities to divert buyers. Dip purchasers were forced to come back from the periphery by the dearth of events. The market, however, remained range-bound and only made moderate gains as a result of investor apprehensions regarding Silvergate Bank and attitudes toward increasing legislative and regulatory surveillance.


Investors now face regulation ambiguity and greater governmental inspection, which was made easier by the reduction in Fed Fear. The G20 is attempting to implement regulation changes to fight unethical crypto practices and reduce the dangers cryptos pose to financial security in response to the fall of FTX, which has given the anti-crypto side of the debate a stronger position.


The cryptocurrency marketplaces will have a hectic week this week. With the "first-ever Senate session centered on the pressing need to clamp down on the increasing environmental effects of crypto mining," Bitcoin mining will be a heated subject on Capitol Hill on Tuesday.


We anticipate learning more about FTX, Silvergate Bank, and Binance. A message to CEO CZ from US legislators last week specifically mentioned Binance. According to the letter, the site helped crooks and sanction evaders receive over $10 billion in funds.


Investors will discreetly hope that Ripple makes excellent headway in the current SEC v. Ripple lawsuit despite the increased monitoring. A win for Ripple might relieve pressure on the cryptocurrency market, especially if the Hinman Papers become public knowledge.


Investor attention will continue to be focused on the Day Ahead Binance, FTX, and Silvergate Bank reports, as well as regulation action and US legislator talk.


Prior to Fed Chief Powell's statement on Tuesday and Wednesday, investors should pay attention to what the FOMC members are saying. A bullish shift would hurt the NASDAQ Composite Index and strengthen the hands of the cryptocurrency investors. This morning, the NASDAQ mini was down 20 points.


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