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On January 21st, star analyst Lu Dong stated that Hong Kong stocks will continue last years upward trend in 2026. Currently, the Hang Seng Index valuation is still below its historical average of 14-15 times. To return to these historical average multiples, given the current number of Hang Seng Index constituent stocks (over 80, unlike the earlier period with only 30), Hong Kong stocks have the potential to rise to between 30,000 and 31,000 points. "I think challenging 30,000 points in 2026 shouldnt be too difficult." In an interview with Bank of East Asia, Lu Dong mentioned that national policies supporting A-share to H-share conversions have led to a booming Hong Kong IPO market, which he believes will continue this year. The trend of funds chasing the technology sector seems to be continuing, while avoiding heavy asset and real estate sectors. He believes that technology and new energy sectors will continue to perform well. Regarding northbound capital, he believes there is room for an increase in its share of Hong Kong stock market turnover this year. As mainland companies convert from A-shares to H-shares for listing in Hong Kong, and given that H-shares are generally cheaper than A-shares, northbound capital will be more inclined to invest in Hong Kong.According to Nikkei: Mitsubishi Motors President Kato will assume the role of CEO and Chairman on April 1.South Korean stocks narrowed losses in early trading on Wednesday, January 21st, as chipmakers regained momentum on optimistic export data and automakers jumped on optimism regarding robotics. Data showed that South Koreas exports in the first 20 days of January increased by 14.9% year-on-year, with semiconductor exports surging 70%. Following the data release, chipmaker Samsung Electronics rose as much as 3%, and SK Hynix gained 1%. Hyundai Motor climbed 9% to a record high, recovering from Tuesdays decline due to profit-taking pressure. However, most other index-weighted stocks still fell, including battery manufacturers, pharmaceutical companies, and e-commerce companies.On January 21, the State Council Information Office held a press conference to introduce the achievements of industrial and information technology development by 2025. Tao Qing, Director of the Bureau of Operation Monitoring and Coordination of the Ministry of Industry and Information Technology, stated that since the beginning of the 14th Five-Year Plan, breakthroughs have been achieved in a number of key materials. High-performance carbon fiber composite materials have been used for the first time globally in the main load-bearing structures of commercially operated subway trains, achieving an 11% weight reduction for the entire vehicle. Going forward, the Ministry of Industry and Information Technology will focus on meeting the practical needs of key application areas, aiming to lead industrial development through material innovation. The development direction will be advanced basic materials, key strategic materials, cutting-edge new materials, and artificial intelligence + materials. The entire chain of advanced materials will be promoted through collaborative innovation, strengthening policy coordination, financial support, talent supply, and factor guarantees to create a favorable ecosystem for the research and application of new materials and comprehensively enhance the innovation capabilities and development efficiency of the new materials industry.On January 21st, the overnight SHIBOR was 1.3220%, down 5.20 basis points; the 7-day SHIBOR was 1.4880%, up 0.50 basis points; the 14-day SHIBOR was 1.5970%, up 1.50 basis points; the 1-month SHIBOR was 1.5590%, down 0.10 basis points; and the 3-month SHIBOR was 1.6000%, unchanged from the previous trading day.

S&P 500 Price Forecast – Stock Markets Continue to Worry About Rates

Jimmy Khan

Feb 22, 2023 16:31


Technical Analysis of the S&P 500

The S&P 500 E-mini contract started overnight trading poorly and hasn't been making a lot of sense. Yet, the contract's high level of volatility persists, and as a result, downward pressure is beginning to build. It's important to note that the 200-Day EMA and the 50-Day EMA are located immediately below. Given that they are both rather flat, there may not actually be any momentum.


As it is slightly above the psychologically and structurally significant 4000 level, this may pave the way for a support level to develop in that approximate area. You must keep in mind that earnings season is now underway because it could cause the market to fluctuate. The moving averages and the psychologically significant 4000 level, if we were to break down below them, might drive the futures market and the index itself significantly lower.


It thus creates the chance of a decline down to the 3900 level, where we had experienced some buying pressure. Following that, there comes the 3800 level, which is considerably more significant and will get a lot of attention. When it comes to whether or not the market can save itself, we would be in that general area hanging on by a thread.


The previous two candlesticks have undoubtedly looked pretty bearish, and I think that may have some momentum built up in it. If the market were to flip around and bounce, then it may try to move towards the 4200 level. The minutes from the Federal Open Market Committee meeting, which are released on Wednesday, will undoubtedly also be relevant. This ought to provide traders a good indication of what the Federal Reserve members discussed during the meeting and whether or not there is an overall hawkish mindset or if there are any ice cracks appearing. This will have a significant impact on the market.

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