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Hong Kong-listed coal stocks declined, with Jiahe Holdings (00704.HK) and Green Leader Holdings (00061.HK) falling more than 8%, Shougang Resources (00639.HK) down 3.56%, and Yankuang Energy (01171.HK) and Mongolia Energy (00276.HK) down nearly 3%.Hong Kong-listed insurance stocks continued to rise in the afternoon, with China Life (02628.HK) extending its gains to 5%, AIA (01299.HK) rising over 4%, and China Pacific Insurance (02601.HK) and Peoples Insurance Company of China (01339.HK) rising over 3%.Hong Kong-listed semiconductor stocks rallied again in the afternoon, with Shanghai Fudan (01385.HK) up 6.79%, Naxin Microelectronics (02676.HK) up over 5%, and GigaDevice (03986.HK) and Chipwise Holdings (02166.HK) up over 4%.On January 27th, Michael Krutzberg, Chief Investment Officer of Public Markets at Allianz Global Investors, stated that with the exception of dovish Governor Milan, who may have objections, the Federal Reserves decision to maintain interest rates this week is expected to receive support from all other voting members. In a report, he noted that since this meeting will not update the summary of economic projections or the dot plot, market focus will shift to the extent to which Chairman Powell will respond to the current challenges to the Feds independence posed by executive power. Krutzberg believes that Powells comments on this issue at the press conference may have a greater impact on the market than the interest rate decision itself—especially any hints regarding his plans to remain on the board until 2028 after his term as chairman ends in May.The CEO of Abu Dhabi National Oil Company (ADNOC) of the United Arab Emirates said that oil demand will remain above 1 billion barrels per day from now until 2040.

Stablecoin Tether hires BDO Italia for monthly proof-of-reserve reports

Florala Chen

Aug 19, 2022 15:19

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Because we are pressing into significant barrier, stock markets have been a little apprehensive throughout Thursday's trading session.

Technical Analysis of the S&P 500

One must now consider whether or not we are running out of momentum or whether we are merely anticipating a signal to go higher after the S&P 500 shown some hesitancy at the 4300 mark. I believe that in the long run, a temporary decline is probably advantageous for both buyers and sellers, thus I believe that it does make sense. The 4186 level, where the 200 Day EMA is located, would be a good target.

However, it's conceivable that we would move considerably higher if we were to break above the highs of the previous several days. It then becomes possible for a migration to occur to the 4500 level. Frankly, it's fascinating to see that not much has been accomplished since the FOMC Meeting Minutes were made public. The could be the strongest message from that show by itself.


The 4100 level would be a good place to start if we were to break down, which may increase selling pressure significantly. We must, of course, keep a tight eye on the bond market. We have a big struggle on our hands since many traders in the Eurodollar futures think the Federal Reserve will need to start easing monetary policy sooner rather than later. I believe that the majority of traders just don't know what to do with themselves right now. That shouldn't come as a great surprise given that the majority of the financial media rely on confusion to generate revenue, and given that the noise is at an all-time high right now. The US economy has many drawbacks, but that was also true 500 points ago.

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