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On January 12, in response to a statement from the US leader that China would strike Iran if it harmed protesters, Foreign Ministry Spokesperson Mao Ning stated at a regular press conference that China hopes the Iranian government and people can overcome current difficulties and maintain national stability. China consistently opposes interference in other countries internal affairs, consistently maintains that the sovereignty and security of all countries should be fully protected by international law, opposes the use of force or the threat of force in international relations, and calls on all parties to do more to promote peace and stability in the Middle East. Mao Ning said that China is closely monitoring the situation in Iran and has not yet received any reports of Chinese citizens being injured or killed in Iran. China will do its utmost to ensure the safety of Chinese citizens in Iran. Chinese citizens in Iran are advised to pay attention to the local security situation and take necessary measures to safeguard their own safety. If assistance is needed, they can contact the Chinese Embassy in Iran or call the consular protection hotline.The Hang Seng Tech Index continued its upward trend in the final minutes of trading, rising more than 3%, while the Hang Seng Index is currently up 1.34%.On January 12th, Jefferies Research reported that its preview of Bilibilis (09626.HK) Q4 2025 results is in line with the banks forecasts, with total revenue expected to remain unchanged at approximately 5% year-on-year, reaching RMB 8.1 billion. Jefferies maintains its "Buy" rating on Bilibilis (BILI.O) US-listed shares at US$34 and its Hong Kong-listed shares at HK$267. By business segment, the bank expects mobile game revenue to increase by 1% quarter-on-quarter but decrease by 15% year-on-year to RMB 1.52 billion (accounting for 20% of total revenue); online advertising revenue is expected to increase by 21% year-on-year to RMB 2.9 billion (accounting for 36% of total revenue), primarily driven by several growth factors, including daily active users, traffic, and revenue per thousand impressions (rMI). The report also noted the success of "Escape from Dwarkov" in the gaming sector, highlighting the companys strategy of focusing on leading positions in vertical categories, long-term product operation, and targeting the younger generation. According to the banks 2026 outlook report, artificial intelligence is predicted to be a key area, while the entertainment industry is favored due to its defensive nature.Iranian Foreign Minister: Internet services will be restored after coordination with security agencies.On January 12th, the Shanghai Futures Exchange (SHFE) reported the following data on energy and chemical warehouse receipts and changes: 1. Pulp futures warehouse receipts: 130,363 tons, an increase of 5,874 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 12,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 0 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 2,040 tons, an increase of 40 tons compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged compared to the previous trading day. The previous trading day saw no change; 6. Petroleum asphalt futures warehouse receipts totaled 16,160 tons, an increase of 2,420 tons compared to the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts totaled 16,660 tons, unchanged compared to the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts totaled 3,464,000 barrels, unchanged compared to the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts totaled 22,760 tons, unchanged compared to the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts totaled 0 tons, unchanged compared to the previous trading day.

S&P 500 (SPY) Dives To 3635 As Initial Jobless Claims Decline

Steven Zhao

Sep 30, 2022 15:00

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Investor Fears Regarding a Hawkish Fed

The Initial Jobless Claims data, which was better than expected, has caused investors to react negatively, and the S&P 500 is down more than 2% during today's trading session.


The figures revealed that just 193,000 Americans sought for unemployment benefits in one week, far less than the expert prediction of 215,000. The Fed claims that the labor market is still too tight. The study supported the robustness of the labor market. The Fed's need to raise rates rapidly in order to reduce demand and fight inflation would hurt stocks.


Auto stocks were under pressure after CarMax's profits and sales fell short of analyst projections. The stock is down 23% so far in today's trading. Traders think that Tesla, General Motors, and Ford have all dropped by 5-6% as a result of the effect that rising lending rates have had on the market for cars.


It is hardly surprising that tech shares have fallen today as the market prepares for higher interest rates. AMD, NVIDIA, and Apple among those that suffered the most losses in this market segment today.


Despite the oil market's rebound, the current sell-off is pervasive, and even energy stocks are under pressure. Since the market views the Fed's actions as the biggest danger to stocks, any news that signals the Fed will keep raising interest rates quickly causes a sell-off.

S&P 500 Tests Support At 3635

The 3635 support level continues to be the S&P 500's target closing price. Even if the RSI is virtually in oversold zone, if the right triggers occur, there is still a chance for additional bearish momentum.


If the S&P 500 closes below 3635, it will go toward the next support level at 3600. The S&P 500 will go closer to support at 3580 if this level is properly challenged.


For the S&P 500 during an upswing, the previous support level at 3660 will serve as the initial resistance level. If the S&P 500 climbs once more over this level, it will move toward the next hurdle at 3700. If the price rises over 3700, the resistance level at 3725 may be challenged.

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