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February 3, Hong Kong Stock Exchange ushered in the first trading day of the Year of the Snake today (3rd). Hong Kong SAR Government Financial Secretary Paul Chan Mo-po delivered a speech at the Spring Festival Opening Ceremony, saying that in the past Year of the Dragon, the Hang Seng Index rose by nearly 4,500 points, an increase of more than 28%, the best performance in the past seven lunar years. Looking forward to the market conditions in the Year of the Snake, Paul Chan pointed out that Hong Kong has the strong support of the country, coupled with the concerted efforts of the SAR government, regulatory agencies and the industry, actively and flexibly responding to challenges, seizing opportunities, and striving to explore more new ideas and new initiatives, which will surely further enhance the attractiveness and competitiveness of Hong Kongs listing platform and push the development of Hong Kongs financial industry to a new peak.BofA Securities raised its price target on Meta Platforms (META.O) to $765 on solid quarterly results.JPMorgan: U.S. tariff policy makes us bearish on base metals in the short term and reinforces our bullish view on gold.Oriental Selection (01797.HK) continued its downward trend, with the decline widening to 10%.On February 3, Citigroup released a report saying that Xiaomis SU7 deliveries exceeded 20,000 units in January, which is the fourth consecutive month that the target has been met. With the increase in production, the bank remains confident that Xiaomi can exceed its delivery target of 300,000 units this year, and estimates that Xiaomis annual delivery volume will be 325,000 units. Therefore, Xiaomis "buy" rating is maintained, with a target price of 41 yuan.

NASDAQ, S&P 500, Dow Jones Analysis – Stocks Move Higher In Choppy Trading

Jimmy Khan

Jan 11, 2023 14:42

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S&P 500 (SPX500)

The S&P 500 increases in value throughout today's trading session as a result of Fed Chair Powell's less aggressive speech in Stockholm. In his remarks, Powell emphasized the significance of central bank independence, which was the major subject of the gathering. He also said that in order to get inflation back to the desired level, controversial steps will be required.


Stocks received some support today from the lack of hawkish remarks, as the S&P 500 finished close to the 3900 mark. Given that the real estate, consumer defense, and utility sectors are all losing ground, it should be emphasized that today's movement is not significant.


Until Thursday, when traders will be concentrating on the inflation figures, trading might remain volatile. The main banks will start the earnings season on Friday. For a few weeks, traders will be more interested in company reports than Fed policy.

NASDAQ (NAS100)

Today's trading session saw some progress for NASDAQ as well. The NASDAQ today received assistance from Amazon and Meta's good performance.


As short-term traders take some gains off the table after the recent rally, Tesla is down 2% in the meantime. From a broad perspective, Tesla is still in a downward trend, therefore further encouraging developments are required for the company to resume its upward trajectory.


Even if Treasury rates are rising today, yield-sensitive tech equities are unaffected by this development. The upward trend for NASDAQ is highlighted by the respectable performance of the tech stock sector.

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