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The Hang Seng Index in Hong Kong opened at 25,634.0 points, down 656.32 points, or 2.5%, on October 13 (Monday); the Hang Seng Tech Index opened at 6,107.65 points, down 152.1 points, or 2.43%, on October 13 (Monday); the CSI 300 Index opened at 9,134.84 points, down 223.48 points, or 2.39%, on October 13 (Monday); and the H-share Index opened at 3,948.87 points, down 87.31 points, or 2.16%, on October 13 (Monday).At the opening bell in Hong Kong, the Hang Seng Index fell 2.5%, while the S&P 500 Index dropped 2.43%. Tech stocks mostly declined, with Bilibili (09626.HK) down over 5%, NIO (09866.HK) down nearly 5%, and Baidu (09888.HK) down over 2%.Hang Seng Index futures opened down 2.75% at 25,560 points, 730 points below the spot price.On October 13th, the National Development and Reform Commission and the National Energy Administration issued the "Management Measures for Interprovincial and Interregional Electricity Emergency Dispatch." These measures stipulate that the on-grid electricity price for emergency dispatch in the sending province will be determined by the market transaction price within the sending province during the same period plus the system operating fee for the corresponding electricity volume from the previous month. If the electricity spot market operates continuously, the market transaction price will be determined based on the real-time price within the province; if the electricity spot market does not operate continuously, the market transaction price will be determined based on the average medium- and long-term market transaction price within the province from the previous month. The on-site electricity price for emergency dispatch in the receiving province will be determined based on the highest of the interprovincial spot market settlement price ceiling or the southern regional spot market clearing price ceiling.On October 13, Vanke (02202.HK) announced on the Hong Kong Stock Exchange that it received a written resignation letter from Mr. Xin Jie, Chairman of the Company, on October 12, 2025. Mr. Xin has resigned from his positions as Non-Executive Director and Chairman of the Company for personal reasons and will no longer hold any position at the Company. Mr. Huang Liping was elected Chairman of the Company at the 24th Meeting of the 20th Board of Directors, with a term commencing on the date of approval by the Board of Directors and ending on the expiration of the term of the 20th Board of Directors.

Silver Prices Are Under Pressure as Yields Increase

Larissa Barlow

Apr 22, 2022 09:58

Silver prices have continued to fall as benchmark rates have risen in anticipation of tighter monetary policy. Benchmark rates continue to rise as Fed Chair Powell addresses the International Monetary Fund. This situation has developed as investors express anxiety about rising inflation and a more hawkish monetary policy stance.

 

Gold prices fell as government yields continued to rise and the market became more risk-averse. Oil prices rose higher in a limited range following the IMF's downgrade of economic growth forecasts and supply disruptions from Libya.

 

Weekly unemployment claims totaled 184,000, down 2,000 from the prior week. Dow Jones estimated the number at 182,000. The data indicates that the labor market continues to be tight.

 

Job vacancies and demand for workers outstripped the labor pool. While the job market has improved, it has not yet returned to pre-pandemic levels.

 

The Philadelphia Manufacturing Index, which tracks order placement, delivery timelines, and shipments, was 17.6. This reading indicated a ten-point fall from March. delivery schedules. Manufacturing increased, but at a slower pace than predicted. 

Technical Evaluation

Silver prices are under pressure, lingering near the $26.5 mark, as bearish sentiment continues to weigh on the safe-haven metal. Despite growing inflation, silver prices continue to decline. A recovery attempt may run into opposition at the critical psychological level of $25.00, but an upward advance will be met with additional selling.

 

Support is located near the low of April 5th, around $24.25. Resistance is located near the $25.30 10-day moving average. Short-term momentum is bearish, as the fast stochastic has crossed below the zero line, signaling a sell signal.

 

The medium-term momentum has shifted to the downside, as evidenced by the histogram's negative correlation with the MACD (moving average convergence divergence). The MACD histogram's trajectory is negative, indicating a downward trend in price movement.

 

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