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The Reserve Bank of India kept its benchmark interest rate unchanged at 5.25%, in line with market expectations.February 6th - Hong Kong stocks opened lower this morning but rebounded after fluctuating throughout the morning session. At midday close, the Hang Seng Index fell 1.13%, and the Hang Seng Tech Index fell 0.47%. Tea beverage stocks led the gains, with Chabaidao (02555.HK), Gu Ming (01364.HK), and Shanghai Auntie (02589.HK) all rising over 3%. Battery concept stocks fluctuated higher, with Ganfeng Lithium (01772.HK) and CATL (03750.HK) both rising over 2%. New energy vehicle stocks strengthened, with NIO-SW (09866.HK) rising over 7% and Li Auto (02015.HK) rising over 5%. Biopharmaceutical concept stocks continued their upward trend, with Innovent Biologics (09969.HK) rising over 11%. In addition, optical communications, power equipment, commercial aerospace, robotics, wind power, and chip concepts also strengthened in the morning session. Leading tech stocks declined, with Alibaba (09988.HK), JD.com (09618.HK), and NetEase-S (09999.HK) all falling by more than 2%. In addition, stocks related to Chinese securities firms, photovoltaic solar energy, non-ferrous metals, and home appliances also weakened. In terms of individual stocks, Meituan (03690.HK) closed down 1.92% in the morning session, following its proposed acquisition of Dingdong for US$717 million; Zhipu (02513.HK) continued its downward trend, falling by more than 6%; and MINIMAX-WP (00100.HK) fell by more than 4%.According to Futures News on February 6, the holdings of the worlds largest silver ETF, iShares Silver Trust, decreased by 122.6 tons from the previous day, with the current holdings at 16,247.45 tons.On February 6th, Aier Eye Hospital issued an announcement clarifying that some media reports regarding suspected irregularities at a psychiatric hospital have directly linked Xiangyang Hengtaikang Hospital Co., Ltd. to Aier Eye Hospital. The company states: Xiangyang Hengtaikang is not a subsidiary of Aier Eye Hospital. It is a fourth-tier subsidiary jointly established by Aier Medical Investment Group Co., Ltd. and other investors. Xiangyang Hengtaikang is operated by its hospital management team. Aier Medical Investment does not participate in the daily operations and management of Xiangyang Hengtaikang. Aier Eye Hospital has no equity control, business affiliation, or management relationship with Hunan Hengtaikang Rehabilitation Medical Industry Development Co., Ltd. and its subsidiaries.According to Futures News on February 6, the holdings of the worlds largest gold ETF, SPDR Gold Trust, decreased by 4 tons from the previous day, with the current holdings at 1077.95 tons.

DOGE Eyes a Return to $0.0850 to Aim for $0.090 as FTX Contagion Declines

Daniel Rogers

Nov 23, 2022 15:37

截屏2022-11-23 下午2.24.11.png 

 

On Tuesday, both Dogecoin (DOGE) and shiba inu coin (SHIB) snapped two-day losing streaks. FTX contagion risk diminished as word of FTX cash holdings and investor interest in FTX assets spread. However, technical indications remain gloomy, with exponential moving averages (EMAs) predicting additional declines.

 

On Tuesday, dogecoin (DOGE) gained 5.23 percent. Reversing Monday's loss of 2.99%, DOGE ended the day at $0.0785. Notably, DOGE closed the day below $0.0800 for the third session in a row.

 

The mid-morning low for DOGE was $0.0729. Avoiding the First Major Support Level (S1) at $0.0715, DOGE climbed to a high of $0.0796 in the early afternoon. At $0.0774, DOGE surpassed the First Major Resistance Level (R1) before retreating. However, a late surge caused DOGE to surpass R1 and close the day at $0.0785.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

On Tuesday, the price of Shiba inu coin (SHIB) increased by 4.76 percent. SHIB closed the day at $0.000000881, reversing Monday's decline of 4.21%.

 

In line with the larger market, SHIB reached a low of $0.00000817 during midmorning. Finding support at the First Major Support Level (S1) at $0.00000816, SHIB surged to a high of $0.00000883 by early afternoon. At $0.00000873, SHIB surpassed the First Major Resistance Level (R1) and closed the day at $0.00000881.

 

FTX contagion risk diminished on Tuesday, providing assistance to DOGE, SHIB, and the broader market. Updates on FTX's assets revealed a substantial cash position, which would mitigate the impact of the company's bankruptcy on its creditors.

 

Reports that Justin Sun of Tron and Brad Garlinghouse of Ripple are interested in FTX assets generated additional support.

 

Nonetheless, Twitter news remained unfavorable for DOGE. There was no new information on Twitter's resumption of the crypto integration project that would promote DOGE adoption.

 

However, investor sentiment increased significantly this morning. Risk of FTX contagion remains the primary motivator. Until the court reveals who FTX's creditors are, downside risks will persist. On Tuesday, the bankruptcy judge ruling over FTX decided to redact the identities of FTX's creditors.

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