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On Tuesday, January 13, the Hang Seng Index closed up 239.99 points, or 0.9%, at 26,848.47; the Hang Seng Tech Index closed up 6.59 points, or 0.11%, at 5,869.79; the H-share Index closed up 65.33 points, or 0.71%, at 9,285.41; and the Red Chip Index closed up 32.21 points, or 0.78%, at 4,146.17.The Ukrainian military says it has attacked and destroyed a Russian drone factory in the Rostov region.On January 13th, the Hang Seng Index opened more than 300 points higher and briefly broke through the 27,000 mark, but the upward momentum was unsustainable. The market continued to decline in the afternoon, with the Hang Seng Tech Index rising more than 2% in the morning before fluctuating and turning lower in the afternoon. At the close, the Hang Seng Index rose 0.9% to 26,848.47 points, and the Tech Index rose 0.11% to 5,869.79 points. The total turnover of the Hang Seng Index reached HK$315.192 billion (compared to HK$306.223 billion in the previous trading day). On the sector front, several pharmaceutical sectors, including innovative drugs, performed well, while precious metals and non-ferrous metals sectors led the gains. Automotive and tech stocks rose initially but then retreated, and AI application stocks weakened in the afternoon. Semiconductors and Apple concept stocks were among the biggest losers. In terms of individual stocks, Alibaba (09988.HK) closed up 3.63%; WuXi AppTec (02359.HK) closed up 8.3%, after the company issued a profit warning yesterday, expecting its net profit attributable to shareholders in 2025 to increase by approximately 102.65% year-on-year; Zijin Mining (02899.HK) closed up 2.39%; BYD (01211.HK) closed up 1.62%; Zhipu (02513.HK) closed down 12.76%; and Hua Hong Semiconductor (01347.HK) closed down 2.02%.Hong Kong stocks closed higher, with the Hang Seng Index rising 0.9% and the Tech Index rising 0.11%. The innovative drug sector performed strongly throughout the day, with WuXi AppTec (02359.HK) closing up 8.3%.A 6.3-magnitude earthquake struck near the Kuril Islands of Russia on the 13th, according to the U.S. Geological Survey Earthquake Information Network. The earthquake had a depth of 21.1 kilometers.

Gold Price Prediction: Bears lurk behind $1,790 during the holiday season — Convergence Detector

Alina Haynes

Dec 26, 2022 19:16

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After a two-day slump, the gold price (XAU/USD) stays slightly bid as bears take a respite. Nonetheless, diverse catalysts pose a challenge to metal buyers in the consolidation of the largest daily decline in more than a week.

 

However, optimism around China's pro-growth plans and Sino-American squabbles have recently contradicted one another, testing Gold dealers. Traders expect the US Core Personal Consumption Expenditure (PCE) - Price Index and November Durable Goods Orders before the holiday-shortened final week of 2022.

 

The cautious mindset may also be attributable to the recent improvement in US GDP and CB Consumer Confidence, which rekindled hawkish Fed bets. In its most recent monetary policy meeting, however, the Federal Reserve failed to convince the XAU/USD bulls. Consequently, stronger prints of the scheduled data are required to recall the Gold sellers.


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