Financial Morning Post July 1, 2024
The US dollar index remained strong and eventually closed down 0.03% at 105.82, rising for four consecutive weeks.
The euro rose 0.2% against the US dollar in early trading to 1.0740, hitting its highest level since last Tuesday.
The dollar rose slightly against the yen to 160.815 yen, with monthly and quarterly gains of about 1.9% and 5.9%, respectively.
The dollar rose slightly against the Swiss franc to 0.8986 Swiss franc.
Gold: After the release of the PCE data, spot gold once rose to nearly $2,340, and then gave up all the gains during the day. It barely closed higher last week, but it was the first monthly cumulative decline in four months.
U.S. stocks: The Dow fell slightly, the S&P 500 and the Nasdaq fell, but the cumulative gains in the first half of the year were still considerable.
European stocks: Most major stock indexes closed lower, with Germany's DAX30 index slightly up and France's CAC40 index falling.
A-shares: The Shanghai Composite Index, Shenzhen Component Index and ChiNext Index continued to adjust, with obvious industry differentiation.
Hong Kong stocks: The Hang Seng Index fell below 18,000 points, with diversified financial and real estate sectors leading the decline, and communication services and banks performing strongly.
Important events this week:
The U.S. Treasury will issue 58 billion yuan of ultra-long-term special government bonds through bidding.
The United States will release the June non-farm payrolls report, and the United Kingdom and France will hold important elections.
Federal Reserve Chairman Powell will attend the European Central Bank Forum and is expected to deliver an important speech.
The People's Bank of China will have 750 billion yuan of reverse repurchases due, which has attracted market attention.
The 2024 World Artificial Intelligence Conference will open this week, focusing on the development trend of global artificial intelligence.
The US dollar index remained strong and eventually closed down 0.03% at 105.82, rising for four consecutive weeks.
The euro rose 0.2% against the US dollar in early trading to 1.0740, hitting its highest level since last Tuesday.
The dollar rose slightly against the yen to 160.815 yen, with monthly and quarterly gains of about 1.9% and 5.9%, respectively.
The dollar rose slightly against the Swiss franc to 0.8986 Swiss franc.
Gold: After the release of the PCE data, spot gold once rose to nearly $2,340, and then gave up all the gains during the day. It barely closed higher last week, but it was the first monthly cumulative decline in four months.
U.S. stocks: The Dow fell slightly, the S&P 500 and the Nasdaq fell, but the cumulative gains in the first half of the year were still considerable.
European stocks: Most major stock indexes closed lower, with Germany's DAX30 index slightly up and France's CAC40 index falling.
A-shares: The Shanghai Composite Index, Shenzhen Component Index and ChiNext Index continued to adjust, with obvious industry differentiation.
Hong Kong stocks: The Hang Seng Index fell below 18,000 points, with diversified financial and real estate sectors leading the decline, and communication services and banks performing strongly.
Important events this week:
The U.S. Treasury will issue 58 billion yuan of ultra-long-term special government bonds through bidding.
The United States will release the June non-farm payrolls report, and the United Kingdom and France will hold important elections.
Federal Reserve Chairman Powell will attend the European Central Bank Forum and is expected to deliver an important speech.
The People's Bank of China will have 750 billion yuan of reverse repurchases due, which has attracted market attention.
The 2024 World Artificial Intelligence Conference will open this week, focusing on the development trend of global artificial intelligence.
2024-07-01 Gold market analysis and operation strategy
News analysis:
During the Asian session today, the price of gold stabilized at around $2,323 per ounce. Last week's US inflation data was basically in line with expectations, boosting expectations that the Federal Reserve may cut interest rates before September, but political uncertainty caused market sentiment to fluctuate. The election events in the United States and France affected Treasury yields, causing gold prices to fall slightly after rising.
Technical analysis:
The daily and weekly lines of gold formed a converging triangle, indicating that the market is consolidating at a high level, which may limit the momentum of bulls. In the short term, we need to be alert to the risk of price retracement and pay attention to the support level of $2,318; if it breaks through, it may trigger a larger retracement. The current resistance level is $2,339, and it is recommended to operate with a high-altitude and low-multiple strategy.
Operational suggestions:
Short-term long strategy: Long in the range of $2,318-2,320, stop loss set at $2,310, and target $2,335-2,345.
Short-term short strategy: If gold rises to $2338-2340, you can consider short operations, with a stop loss at $2349 and a target of $2310-2320.
News analysis:
During the Asian session today, the price of gold stabilized at around $2,323 per ounce. Last week's US inflation data was basically in line with expectations, boosting expectations that the Federal Reserve may cut interest rates before September, but political uncertainty caused market sentiment to fluctuate. The election events in the United States and France affected Treasury yields, causing gold prices to fall slightly after rising.
Technical analysis:
The daily and weekly lines of gold formed a converging triangle, indicating that the market is consolidating at a high level, which may limit the momentum of bulls. In the short term, we need to be alert to the risk of price retracement and pay attention to the support level of $2,318; if it breaks through, it may trigger a larger retracement. The current resistance level is $2,339, and it is recommended to operate with a high-altitude and low-multiple strategy.
Operational suggestions:
Short-term long strategy: Long in the range of $2,318-2,320, stop loss set at $2,310, and target $2,335-2,345.
Short-term short strategy: If gold rises to $2338-2340, you can consider short operations, with a stop loss at $2349 and a target of $2310-2320.
Financial Morning News: July 2, 2024
Gold market:
Gold prices continued to rise yesterday, boosted by investors' short covering, regaining the 2330 mark and finally closing up 0.22%. The market focus has shifted to the US employment data to be released this week, which may provide more clues for the Fed's interest rate cut.
Foreign exchange market:
The dollar rose to 161.72 yen against the yen in New York in the afternoon, hitting the strongest level since 1986, and closed at 161.48 yen, up 0.4%.
The decline in the yen exchange rate pushed the euro against the yen to a 32-year high of 173.68 yen.
The euro rose 0.2% against the dollar to $1.0736.
The dollar index rose 0.1% to 105.84 in late New York.
US stocks:
The Dow Jones closed up 0.13%, the S&P 500 rose 0.27%, and the Nasdaq rose 0.83%.
New energy vehicle stocks performed strongly; Tesla (TSLA.O) closed up 6.05%, NIO (NIO.N) rose 6.61%, Li Auto (LI.O) rose 6.71%, and Xpeng Motors (XPEV.N) rose 5.18%.
European stock markets:
Major European stock indexes rose across the board yesterday, with Germany's DAX30 index closing up 0.3%, the UK's FTSE 100 index closing up 0.03%, France's CAC40 index closing up 1.09%, and the European STOXX 50 index closing up 0.73%.
Gold market:
Gold prices continued to rise yesterday, boosted by investors' short covering, regaining the 2330 mark and finally closing up 0.22%. The market focus has shifted to the US employment data to be released this week, which may provide more clues for the Fed's interest rate cut.
Foreign exchange market:
The dollar rose to 161.72 yen against the yen in New York in the afternoon, hitting the strongest level since 1986, and closed at 161.48 yen, up 0.4%.
The decline in the yen exchange rate pushed the euro against the yen to a 32-year high of 173.68 yen.
The euro rose 0.2% against the dollar to $1.0736.
The dollar index rose 0.1% to 105.84 in late New York.
US stocks:
The Dow Jones closed up 0.13%, the S&P 500 rose 0.27%, and the Nasdaq rose 0.83%.
New energy vehicle stocks performed strongly; Tesla (TSLA.O) closed up 6.05%, NIO (NIO.N) rose 6.61%, Li Auto (LI.O) rose 6.71%, and Xpeng Motors (XPEV.N) rose 5.18%.
European stock markets:
Major European stock indexes rose across the board yesterday, with Germany's DAX30 index closing up 0.3%, the UK's FTSE 100 index closing up 0.03%, France's CAC40 index closing up 1.09%, and the European STOXX 50 index closing up 0.73%.
Financial Morning News: July 3, 2024
Foreign exchange market:
The U.S. dollar index fell back under the influence of Powell's dovish remarks, closing at 105.63, down 0.113%.
The euro was flat against the dollar at $1.0741.
The dollar hit its highest point in nearly 38 years against the yen earlier, and finally flat at 161.48 yen.
Precious metals market:
Spot gold rose to a daily high after Powell's speech, but gave up gains due to job vacancy data, closing down to $2,329.47/ounce, down 0.1%.
Spot silver closed up 0.25% at $29.52/ounce.
Global stock markets:
The three major U.S. stock indices closed higher: the Dow Jones Industrial Average rose 0.41%, the S&P 500 rose 0.62%, and the Nasdaq rose 0.84%. Tesla (TSLA.O) rose 10.20% due to its outstanding Q2 delivery performance.
Major European stock indices fell across the board: Germany's DAX30 index fell 0.69%, Britain's FTSE 100 index fell 0.56%, France's CAC40 index fell 0.3%, and Europe's Stoxx 50 index fell 0.48%.
The Vietnamese stock market continued to open higher and rise after yesterday's rise, mainly driven by the banking sector. The VN index rose 15.23 points to 1269.79 points; the VN30 index rose 10.58 points to 1296.06 points.
Preview of important events this week:
US employment data: Investors will focus on US employment data released later this week for more clues about the Federal Reserve's possible interest rate cuts.
Corporate quarterly reports: Second-quarter corporate financial reports are about to be released, and investors will focus on performance and future prospects.
Foreign exchange market:
The U.S. dollar index fell back under the influence of Powell's dovish remarks, closing at 105.63, down 0.113%.
The euro was flat against the dollar at $1.0741.
The dollar hit its highest point in nearly 38 years against the yen earlier, and finally flat at 161.48 yen.
Precious metals market:
Spot gold rose to a daily high after Powell's speech, but gave up gains due to job vacancy data, closing down to $2,329.47/ounce, down 0.1%.
Spot silver closed up 0.25% at $29.52/ounce.
Global stock markets:
The three major U.S. stock indices closed higher: the Dow Jones Industrial Average rose 0.41%, the S&P 500 rose 0.62%, and the Nasdaq rose 0.84%. Tesla (TSLA.O) rose 10.20% due to its outstanding Q2 delivery performance.
Major European stock indices fell across the board: Germany's DAX30 index fell 0.69%, Britain's FTSE 100 index fell 0.56%, France's CAC40 index fell 0.3%, and Europe's Stoxx 50 index fell 0.48%.
The Vietnamese stock market continued to open higher and rise after yesterday's rise, mainly driven by the banking sector. The VN index rose 15.23 points to 1269.79 points; the VN30 index rose 10.58 points to 1296.06 points.
Preview of important events this week:
US employment data: Investors will focus on US employment data released later this week for more clues about the Federal Reserve's possible interest rate cuts.
Corporate quarterly reports: Second-quarter corporate financial reports are about to be released, and investors will focus on performance and future prospects.
Financial Morning News: July 4, 2024
Foreign Exchange and Money Market
The US dollar index closed down 0.2% yesterday at 105.41, approaching a three-week low, mainly because US economic data fell short of expectations, reinforcing expectations that the Federal Reserve may cut interest rates.
The yen hit a 38-year low against the US dollar and a record low against the euro. The market is concerned about whether Japan will take intervention measures.
The euro rose to a three-week high against the US dollar, up 0.3% at $1.0781 at the end of the session.
Precious Metals Market
Spot gold rose 1.09% yesterday, once rising by $35, reaching a high of $2,364.93 per ounce, a nearly two-week high.
Spot silver broke through the $30 mark strongly, closing up 3.32% at $30.5 per ounce.
Global Stock Markets
The three major US stock indices rose and fell yesterday, with the S&P 500 up 0.5%, a new high, the Nasdaq up 0.88%, and the Dow down slightly by 0.06%.
Tesla's stock price rose 6.5% for the seventh consecutive day, setting a record for the longest winning streak in a year.
European stock markets closed higher across the board, with Germany's DAX30 index up 1.16%, Britain's FTSE 100 index up 0.61%, and France's CAC40 index up 1.24%.
Hong Kong's major stock indexes opened higher and closed higher; the Hang Seng Index once stood above the 18,000-point mark in the morning session, but the index failed to maintain it in the afternoon and fell back below the 10-day moving average. As of the close, the Hang Seng Index closed up 1.18% at 17,978.57 points; the Hang Seng Technology Index closed up 2.48% at 3,626.93 points.
The three major A-share indices weakened; as of the close, the Shanghai Composite Index fell 0.49%, the Shenzhen Component Index fell 0.59%, and the ChiNext Index fell 0.30%. About 3,800 stocks fell in the three markets of Shanghai, Shenzhen and Beijing.
The Vietnamese stock market rebounded for the third consecutive trading day yesterday. Market assessments showed that the Vietnamese index fluctuated between 1,250 and 1,290 points.
Foreign Exchange and Money Market
The US dollar index closed down 0.2% yesterday at 105.41, approaching a three-week low, mainly because US economic data fell short of expectations, reinforcing expectations that the Federal Reserve may cut interest rates.
The yen hit a 38-year low against the US dollar and a record low against the euro. The market is concerned about whether Japan will take intervention measures.
The euro rose to a three-week high against the US dollar, up 0.3% at $1.0781 at the end of the session.
Precious Metals Market
Spot gold rose 1.09% yesterday, once rising by $35, reaching a high of $2,364.93 per ounce, a nearly two-week high.
Spot silver broke through the $30 mark strongly, closing up 3.32% at $30.5 per ounce.
Global Stock Markets
The three major US stock indices rose and fell yesterday, with the S&P 500 up 0.5%, a new high, the Nasdaq up 0.88%, and the Dow down slightly by 0.06%.
Tesla's stock price rose 6.5% for the seventh consecutive day, setting a record for the longest winning streak in a year.
European stock markets closed higher across the board, with Germany's DAX30 index up 1.16%, Britain's FTSE 100 index up 0.61%, and France's CAC40 index up 1.24%.
Hong Kong's major stock indexes opened higher and closed higher; the Hang Seng Index once stood above the 18,000-point mark in the morning session, but the index failed to maintain it in the afternoon and fell back below the 10-day moving average. As of the close, the Hang Seng Index closed up 1.18% at 17,978.57 points; the Hang Seng Technology Index closed up 2.48% at 3,626.93 points.
The three major A-share indices weakened; as of the close, the Shanghai Composite Index fell 0.49%, the Shenzhen Component Index fell 0.59%, and the ChiNext Index fell 0.30%. About 3,800 stocks fell in the three markets of Shanghai, Shenzhen and Beijing.
The Vietnamese stock market rebounded for the third consecutive trading day yesterday. Market assessments showed that the Vietnamese index fluctuated between 1,250 and 1,290 points.
Financial Morning News: July 5, 2024
Foreign Exchange Market
The US dollar index continued to fall to the 105 mark on Thursday, hitting a new low since mid-June. The pound rose slightly by 0.13% against the US dollar to close at $1.2757; the euro rose by 0.22% against the US dollar to $1.0810; the yen rose by 0.27% against the US dollar to 161.25 yen. Voting in the British general election has begun, and the second round of the French general election is about to begin. These political events affect the exchange rate performance of the euro and the pound.
Gold Market
Spot gold hovered near a two-week high under the influence of weaker-than-expected US economic data, and market expectations may prompt the Federal Reserve to cut interest rates in September. Spot gold closed almost flat at $2,356.12 per ounce, and silver closed down 0.35% at $30.39 per ounce.
Stock Market
Due to the Independence Day holiday, the US stock market was closed on Thursday and the market was trading light.
Major European stock indices closed higher, with Germany's DAX30 up 0.41%, Britain's FTSE 100 up 0.86%, France's CAC40 up 0.83%, and Europe's Stoxx 50 up 0.44%.
In terms of A-shares, the Shanghai Composite Index fell 0.83%, the Shenzhen Component Index fell 0.99%, and the ChiNext Index fell 0.78%; the motor and humanoid robot sectors bucked the trend; most sectors such as Internet e-commerce, tourism and hotels, education, real estate, retail, and lithography fell.
In terms of Hong Kong stocks, the Hang Seng Index rose 0.28% and the Hang Seng Technology Index rose 0.63%. Gold, food, education, hydrogen energy, automobiles and other industries or concepts rose the most. Mainland property management, heavy machinery, biomedicine, domestic real estate and other concepts fell the most.
In addition, Asia-Pacific stock markets rose collectively yesterday. South Korea's stock market hit a 29-month high; Japan's stock market is close to the record high set in March; India's stock market hit a new record high; Taiwan's stock market hit a new record high, with Taiwan's weighted index up 31% this year. Vietnam's index rose for four consecutive trading days.
Foreign Exchange Market
The US dollar index continued to fall to the 105 mark on Thursday, hitting a new low since mid-June. The pound rose slightly by 0.13% against the US dollar to close at $1.2757; the euro rose by 0.22% against the US dollar to $1.0810; the yen rose by 0.27% against the US dollar to 161.25 yen. Voting in the British general election has begun, and the second round of the French general election is about to begin. These political events affect the exchange rate performance of the euro and the pound.
Gold Market
Spot gold hovered near a two-week high under the influence of weaker-than-expected US economic data, and market expectations may prompt the Federal Reserve to cut interest rates in September. Spot gold closed almost flat at $2,356.12 per ounce, and silver closed down 0.35% at $30.39 per ounce.
Stock Market
Due to the Independence Day holiday, the US stock market was closed on Thursday and the market was trading light.
Major European stock indices closed higher, with Germany's DAX30 up 0.41%, Britain's FTSE 100 up 0.86%, France's CAC40 up 0.83%, and Europe's Stoxx 50 up 0.44%.
In terms of A-shares, the Shanghai Composite Index fell 0.83%, the Shenzhen Component Index fell 0.99%, and the ChiNext Index fell 0.78%; the motor and humanoid robot sectors bucked the trend; most sectors such as Internet e-commerce, tourism and hotels, education, real estate, retail, and lithography fell.
In terms of Hong Kong stocks, the Hang Seng Index rose 0.28% and the Hang Seng Technology Index rose 0.63%. Gold, food, education, hydrogen energy, automobiles and other industries or concepts rose the most. Mainland property management, heavy machinery, biomedicine, domestic real estate and other concepts fell the most.
In addition, Asia-Pacific stock markets rose collectively yesterday. South Korea's stock market hit a 29-month high; Japan's stock market is close to the record high set in March; India's stock market hit a new record high; Taiwan's stock market hit a new record high, with Taiwan's weighted index up 31% this year. Vietnam's index rose for four consecutive trading days.
7.5 Analysis and Operation Suggestions on the Gold Market
ใNewsใ
The US employment data such as ADP and initial jobless claims in May performed poorly. The market generally expects that the US job market may slow down, which is expected to provide support for gold prices before the data is released. However, Israel will send a delegation to negotiate with Hamas to release the hostages, and the geopolitical situation is worried; the US job vacancy data performed strongly, and even if the non-agricultural performance is poor, there may be "buy expectations and sell facts", and we still need to beware of the possibility of a sharp drop in gold prices.
ใTechnicalใ
The intraday volatility of gold narrowed, and the bullish momentum seemed to weaken. The daily K-line formed a high cross star, indicating that the gold price is in the adjustment stage recently. As the release of non-agricultural data is approaching, the market is waiting for the long and short battle. Although gold was sideways yesterday, the bullish force is still strong, and it may further break through today with the non-agricultural data. The 1-hour chart of gold shows that the bullish volume continues, and it is sideways at a high level after breaking through the box, which may be ready to go. It is recommended to buy on dips when the support of 2350 is hit in the early trading, and pay attention to the entry opportunities near 2352.
ใNon-farm Night Outlookใ
The market generally expects that the gold price will break through $2,400 on the night of the non-farm data, as forecasts show that the number of new jobs in the United States slowed down in June, wage growth slowed to a three-year low, and the unemployment rate may remain high, supporting the Fed's expectations of a rate cut this year. Economists pointed out that if the non-farm data is weaker than expected, especially the increase in the unemployment rate, it will further consolidate the market's expectations of a rate cut and push up the gold price. Analysts believe that the market's reaction to the non-farm data may be negative. If the data meets the expected signs of economic slowdown, the gold price may usher in a new round of gains.
ใNewsใ
The US employment data such as ADP and initial jobless claims in May performed poorly. The market generally expects that the US job market may slow down, which is expected to provide support for gold prices before the data is released. However, Israel will send a delegation to negotiate with Hamas to release the hostages, and the geopolitical situation is worried; the US job vacancy data performed strongly, and even if the non-agricultural performance is poor, there may be "buy expectations and sell facts", and we still need to beware of the possibility of a sharp drop in gold prices.
ใTechnicalใ
The intraday volatility of gold narrowed, and the bullish momentum seemed to weaken. The daily K-line formed a high cross star, indicating that the gold price is in the adjustment stage recently. As the release of non-agricultural data is approaching, the market is waiting for the long and short battle. Although gold was sideways yesterday, the bullish force is still strong, and it may further break through today with the non-agricultural data. The 1-hour chart of gold shows that the bullish volume continues, and it is sideways at a high level after breaking through the box, which may be ready to go. It is recommended to buy on dips when the support of 2350 is hit in the early trading, and pay attention to the entry opportunities near 2352.
ใNon-farm Night Outlookใ
The market generally expects that the gold price will break through $2,400 on the night of the non-farm data, as forecasts show that the number of new jobs in the United States slowed down in June, wage growth slowed to a three-year low, and the unemployment rate may remain high, supporting the Fed's expectations of a rate cut this year. Economists pointed out that if the non-farm data is weaker than expected, especially the increase in the unemployment rate, it will further consolidate the market's expectations of a rate cut and push up the gold price. Analysts believe that the market's reaction to the non-farm data may be negative. If the data meets the expected signs of economic slowdown, the gold price may usher in a new round of gains.
Financial Morning News: July 8, 2024
Foreign exchange market:
The US dollar index fell slightly after the latest non-farm payrolls data was released. The data showed that the US labor market growth slowed down and the unemployment rate rose, further strengthening the market's expectations for the future policy direction of the Federal Reserve. Both the euro and the pound rose against the US dollar, reflecting the market's response to the weakening of the US dollar.
Gold market:
Gold prices continued to rise after the release of labor market data, standing above the $2,390 mark, the highest level since May. Investors are clearly seeking safe-haven assets, and both gold and silver have recorded significant gains, reflecting market concerns about the outlook for economic growth.
Stock market:
U.S. stocks closed higher on Friday, especially technology stocks, with the Nasdaq and S&P 500 indexes hitting record highs. Although labor market data showed signs of weakness, market expectations that the Federal Reserve may cut interest rates earlier boosted stock market sentiment.
European stocks were weak overall, mainly dragged down by banks and energy stocks. The uncertainty of the French parliamentary elections has heightened investors' cautious sentiment. The pan-European STOXX 600 index rose on a weekly basis, but closed lower on the day.
China's A-share market showed a downward trend, with major stock indices recording varying degrees of decline. Hong Kong's Hang Seng Index and the China National Index rose slightly, but the overall market trading was relatively cautious, and the performance of industry sectors was obviously differentiated.
The Vietnamese stock market continued its upward trend this week, but market liquidity showed obvious signs of tightening. Investors' preference for bank stocks and retail stocks supported the rise of the index, but the high-level selling sentiment exacerbated market volatility.
Foreign exchange market:
The US dollar index fell slightly after the latest non-farm payrolls data was released. The data showed that the US labor market growth slowed down and the unemployment rate rose, further strengthening the market's expectations for the future policy direction of the Federal Reserve. Both the euro and the pound rose against the US dollar, reflecting the market's response to the weakening of the US dollar.
Gold market:
Gold prices continued to rise after the release of labor market data, standing above the $2,390 mark, the highest level since May. Investors are clearly seeking safe-haven assets, and both gold and silver have recorded significant gains, reflecting market concerns about the outlook for economic growth.
Stock market:
U.S. stocks closed higher on Friday, especially technology stocks, with the Nasdaq and S&P 500 indexes hitting record highs. Although labor market data showed signs of weakness, market expectations that the Federal Reserve may cut interest rates earlier boosted stock market sentiment.
European stocks were weak overall, mainly dragged down by banks and energy stocks. The uncertainty of the French parliamentary elections has heightened investors' cautious sentiment. The pan-European STOXX 600 index rose on a weekly basis, but closed lower on the day.
China's A-share market showed a downward trend, with major stock indices recording varying degrees of decline. Hong Kong's Hang Seng Index and the China National Index rose slightly, but the overall market trading was relatively cautious, and the performance of industry sectors was obviously differentiated.
The Vietnamese stock market continued its upward trend this week, but market liquidity showed obvious signs of tightening. Investors' preference for bank stocks and retail stocks supported the rise of the index, but the high-level selling sentiment exacerbated market volatility.
Financial Morning News: July 9, 2024
Gold Market
Gold has fallen sharply. This change was mainly affected by the US trading session, with a closing decline of 1.35%, reflecting the market's expectations for inflation and the direction of the Fed's policy.
Stock Market
The performance of the US stock market was clearly differentiated, with the S&P 500 and Nasdaq indexes hitting new closing highs, showing strong performance in technology stocks and large-cap stocks. However, the Dow Jones Industrial Average fell slightly, showing the market's uncertainty about the speed of economic recovery.
European stock markets were weak overall, mainly dragged down by French and British stock markets. Investors have adjusted their expectations for the European economic recovery, and market sentiment is relatively cautious.
Hong Kong's Hang Seng Index closed down 1.55%, with weak performance in technology stocks; the A-share market opened low and fell, with the Shanghai Composite Index falling 0.93%, and the Shenzhen Component Index and ChiNext Index falling 1.54% and 1.62% respectively.
The Vietnamese stock market was affected by the sell-off of foreign capital, and the market fell sharply. The Hang Seng Index in the Ho Chi Minh market closed down 1.55%.
The three major legal entities in the Taiwan stock market sold more than 14.073 billion yuan in total. Among them, foreign capital sold more than 8.221 billion yuan, investment trusts bought more than 1.44 billion yuan, and proprietary traders sold more than 7.292 billion yuan. The overall trend of the Taiwan stock market is a bullish pattern. It is recommended to arrange stocks with good fundamentals and themes in the second half of the year.
Foreign exchange market
Today's foreign exchange market showed a diversified trend. The US dollar index rose slightly, reflecting investors' optimism about the recovery of the US economy. The euro fell slightly against the US dollar, showing the challenges facing the eurozone economy.
Gold Market
Gold has fallen sharply. This change was mainly affected by the US trading session, with a closing decline of 1.35%, reflecting the market's expectations for inflation and the direction of the Fed's policy.
Stock Market
The performance of the US stock market was clearly differentiated, with the S&P 500 and Nasdaq indexes hitting new closing highs, showing strong performance in technology stocks and large-cap stocks. However, the Dow Jones Industrial Average fell slightly, showing the market's uncertainty about the speed of economic recovery.
European stock markets were weak overall, mainly dragged down by French and British stock markets. Investors have adjusted their expectations for the European economic recovery, and market sentiment is relatively cautious.
Hong Kong's Hang Seng Index closed down 1.55%, with weak performance in technology stocks; the A-share market opened low and fell, with the Shanghai Composite Index falling 0.93%, and the Shenzhen Component Index and ChiNext Index falling 1.54% and 1.62% respectively.
The Vietnamese stock market was affected by the sell-off of foreign capital, and the market fell sharply. The Hang Seng Index in the Ho Chi Minh market closed down 1.55%.
The three major legal entities in the Taiwan stock market sold more than 14.073 billion yuan in total. Among them, foreign capital sold more than 8.221 billion yuan, investment trusts bought more than 1.44 billion yuan, and proprietary traders sold more than 7.292 billion yuan. The overall trend of the Taiwan stock market is a bullish pattern. It is recommended to arrange stocks with good fundamentals and themes in the second half of the year.
Foreign exchange market
Today's foreign exchange market showed a diversified trend. The US dollar index rose slightly, reflecting investors' optimism about the recovery of the US economy. The euro fell slightly against the US dollar, showing the challenges facing the eurozone economy.
Financial Morning News: July 10, 2024
Gold and Silver:
Spot gold fluctuated higher in U.S. trading, closing up 0.2% at $2,363.82 per ounce; spot silver closed up 0.12% at $30.8 per ounce. Although gold prices are affected by the strength of the U.S. dollar and rising U.S. Treasury yields, the market is still looking forward to the impact of the release of U.S. inflation data for June this week.
European and American stock markets:
The Dow Jones Industrial Average closed down 0.13%, the Nasdaq rose 0.14%, and the S&P 500 rose 0.08%. Large technology stocks performed differently, with Tesla rising continuously to a recent high, while Microsoft fell more than 1%.
The French CAC-40 index fell 1.6%, the German DAX index closed down 1.28%, and the pan-European STOXX 600 index fell 0.9%, reflecting the market adjustment after the political uncertainty in France and the Fed's policy statement.
Asian stock markets:
The Taiwan stock market fluctuated violently yesterday, mainly due to the impact of the Fed's Powell speech. The weighted index opened higher, with Hon Hai and financial stocks driving the increase by more than 240 points, setting a new high. However, selling pressure appeared in the morning, and the index fell sharply by more than 280 points. After noon, TSMC and other stocks rebounded, and the index closed above the flat. Foreign investors sold 15.718 billion yuan, and investment trusts bought 4.885 billion yuan. Today, the market expects the Federal Reserve to cut interest rates in September. The technical side of the Taiwan stock market is bullish. It is recommended to pay attention to stocks in the semiconductor and other fields.
In terms of Hong Kong stocks, the Hang Seng Technology Index closed up 0.96%, the Hang Seng Index closed flat, and the national index fell slightly by 0.14%. Most large-scale technology stocks turned to rise in the afternoon. Apple concept stocks and semiconductor chip stocks performed strongly throughout the day. Cement stocks and the three barrels of oil fell, and coal stocks and power stocks were weak throughout the day.
In terms of A-shares, the Shanghai Composite Index rose 1.26% to 2959 points, the Shenzhen Component Index rose 1.68%, and the ChiNext Index rose 1.43%.
The Vietnamese stock market rose strongly today, with the VN Index rising 0.79% to close at 1293.71 points. Among the VN30 constituents, some big gainers such as the power and insurance sectors performed well, but some technology stocks such as FPT, MWG and PLX suffered from short-selling pressure.
Foreign exchange market:
The US dollar index rose briefly after Powell's speech, but fell back in late trading and finally closed up 0.108%. The dollar fell slightly against the euro to $1.081, and the dollar rose against the yen to 161.28 yen.
Gold and Silver:
Spot gold fluctuated higher in U.S. trading, closing up 0.2% at $2,363.82 per ounce; spot silver closed up 0.12% at $30.8 per ounce. Although gold prices are affected by the strength of the U.S. dollar and rising U.S. Treasury yields, the market is still looking forward to the impact of the release of U.S. inflation data for June this week.
European and American stock markets:
The Dow Jones Industrial Average closed down 0.13%, the Nasdaq rose 0.14%, and the S&P 500 rose 0.08%. Large technology stocks performed differently, with Tesla rising continuously to a recent high, while Microsoft fell more than 1%.
The French CAC-40 index fell 1.6%, the German DAX index closed down 1.28%, and the pan-European STOXX 600 index fell 0.9%, reflecting the market adjustment after the political uncertainty in France and the Fed's policy statement.
Asian stock markets:
The Taiwan stock market fluctuated violently yesterday, mainly due to the impact of the Fed's Powell speech. The weighted index opened higher, with Hon Hai and financial stocks driving the increase by more than 240 points, setting a new high. However, selling pressure appeared in the morning, and the index fell sharply by more than 280 points. After noon, TSMC and other stocks rebounded, and the index closed above the flat. Foreign investors sold 15.718 billion yuan, and investment trusts bought 4.885 billion yuan. Today, the market expects the Federal Reserve to cut interest rates in September. The technical side of the Taiwan stock market is bullish. It is recommended to pay attention to stocks in the semiconductor and other fields.
In terms of Hong Kong stocks, the Hang Seng Technology Index closed up 0.96%, the Hang Seng Index closed flat, and the national index fell slightly by 0.14%. Most large-scale technology stocks turned to rise in the afternoon. Apple concept stocks and semiconductor chip stocks performed strongly throughout the day. Cement stocks and the three barrels of oil fell, and coal stocks and power stocks were weak throughout the day.
In terms of A-shares, the Shanghai Composite Index rose 1.26% to 2959 points, the Shenzhen Component Index rose 1.68%, and the ChiNext Index rose 1.43%.
The Vietnamese stock market rose strongly today, with the VN Index rising 0.79% to close at 1293.71 points. Among the VN30 constituents, some big gainers such as the power and insurance sectors performed well, but some technology stocks such as FPT, MWG and PLX suffered from short-selling pressure.
Foreign exchange market:
The US dollar index rose briefly after Powell's speech, but fell back in late trading and finally closed up 0.108%. The dollar fell slightly against the euro to $1.081, and the dollar rose against the yen to 161.28 yen.
Financial Morning News: July 11, 2024
Gold Market
Gold prices rebounded slightly, mainly affected by the weakening of the US dollar and geopolitical tensions. Investors' concerns about continued inflation and increased safe-haven demand supported the rise of gold. However, technical indicators show that gold is still weak and may face pressure in the short term.
Taiwan Stock Market
Taiwan stocks rose strongly yesterday, mainly driven by heavyweight stocks such as TSMC. Coupled with the good performance of technology stocks, the Taiwan Stock Index closed up 107 points at 24007.08 points. The electronics, traditional industries and financial sectors all performed well, and the market's upward momentum was strong.
US Stocks
US stocks continued to rise yesterday, with the S&P 500 and Nasdaq continuing to set new historical highs. Technology stocks led the gains, and technology giants such as Tesla and Amazon performed strongly, driving the overall market rise. Market sentiment is positive, mainly driven by the Fed's continued support for the economy and optimistic expectations for corporate quarterly reports.
European stock market
European stock market performance was mixed yesterday, with the UK FTSE 100 index falling slightly and the German DAX index rising slightly. The market is concerned about the outcome of the ECB meeting, as well as the impact of economic recovery prospects and inflationary pressure. Bank stocks and energy stocks performed poorly, while technology stocks and consumer goods stocks were relatively strong.
Hong Kong stock market
Hong Kong stocks fluctuated lower again yesterday, with the Hang Seng Index falling more than 1%, and the Hang Seng Technology Index also falling under selling pressure. Market sentiment was affected by the tension in Sino-US trade relations and the mainland's economic data that was lower than expected. Investors remain cautious about the political situation in Hong Kong and changes in capital market regulation.
Foreign exchange market
In the foreign exchange market, the US dollar index continued to fall to 104.82 yesterday, affected by the slowdown in the US economic recovery and expectations of central bank policy easing. The euro rose to 1.0875 against the US dollar, and the pound also maintained a strong performance against the US dollar, at 1.2889. There is great uncertainty in the market's divergence on global monetary policy and future trends, and investors are closely watching the dynamics of the central bank.
Gold Market
Gold prices rebounded slightly, mainly affected by the weakening of the US dollar and geopolitical tensions. Investors' concerns about continued inflation and increased safe-haven demand supported the rise of gold. However, technical indicators show that gold is still weak and may face pressure in the short term.
Taiwan Stock Market
Taiwan stocks rose strongly yesterday, mainly driven by heavyweight stocks such as TSMC. Coupled with the good performance of technology stocks, the Taiwan Stock Index closed up 107 points at 24007.08 points. The electronics, traditional industries and financial sectors all performed well, and the market's upward momentum was strong.
US Stocks
US stocks continued to rise yesterday, with the S&P 500 and Nasdaq continuing to set new historical highs. Technology stocks led the gains, and technology giants such as Tesla and Amazon performed strongly, driving the overall market rise. Market sentiment is positive, mainly driven by the Fed's continued support for the economy and optimistic expectations for corporate quarterly reports.
European stock market
European stock market performance was mixed yesterday, with the UK FTSE 100 index falling slightly and the German DAX index rising slightly. The market is concerned about the outcome of the ECB meeting, as well as the impact of economic recovery prospects and inflationary pressure. Bank stocks and energy stocks performed poorly, while technology stocks and consumer goods stocks were relatively strong.
Hong Kong stock market
Hong Kong stocks fluctuated lower again yesterday, with the Hang Seng Index falling more than 1%, and the Hang Seng Technology Index also falling under selling pressure. Market sentiment was affected by the tension in Sino-US trade relations and the mainland's economic data that was lower than expected. Investors remain cautious about the political situation in Hong Kong and changes in capital market regulation.
Foreign exchange market
In the foreign exchange market, the US dollar index continued to fall to 104.82 yesterday, affected by the slowdown in the US economic recovery and expectations of central bank policy easing. The euro rose to 1.0875 against the US dollar, and the pound also maintained a strong performance against the US dollar, at 1.2889. There is great uncertainty in the market's divergence on global monetary policy and future trends, and investors are closely watching the dynamics of the central bank.
Global Financial Markets - July 12, 2024
Gold:
Prices rose more than 2% yesterday, breaking through the $2,400 per ounce mark, affected by the unexpected decline in US consumer prices in June. The intraday increase exceeded $40, setting a new high since May 22.
Taiwan stocks:
Performed strongly, the weighted index opened with a gap and set a new high. Semiconductor leader TSMC's revenue exceeded expectations, boosting market sentiment. The weighted index closed up 382.95 points, with a turnover of 556.932 billion yuan. Focus on the performance of weighted stocks such as semiconductors, finance and electronics.
US stocks:
The three major indexes rose and fell, the S&P 500 and Nasdaq ended the trend of setting new highs for several days, and the Dow Jones closed slightly higher. Technology stocks encountered selling pressure, and the stocks of the seven giants such as Nvidia and Tesla fell sharply.
European stock market:
Major European stock indices closed higher, with the German DAX30 index, the British FTSE 100 index, the French CAC40 index and the European Stoxx 50 index all recording gains, influenced by the overall positive trend of global stock markets.
Hong Kong stocks:
The Hang Seng Index rebounded strongly, rising by more than 2% after opening low and closing high throughout the day. Technology stocks and biopharmaceutical stocks performed outstandingly, with stocks such as Xiaopeng Motors and Ideal Motors rising sharply, while stocks such as China Resources Power fell.
A-share market:
The three major indexes opened higher and closed higher, with the Shanghai Composite Index and Shenzhen Component Index rising by more than 1%, and the ChiNext Index rising by more than 2%. Nonferrous metals and new energy vehicle sectors performed strongly, with some stocks hitting the daily limit.
Vietnam stock market:
After two consecutive trading days of decline, affected by external market sentiment, the weakening of bulls led to a market adjustment. Foreign capital turned to a net buying state yesterday, but the overall market was still weak.
Foreign exchange market:
The US dollar index fell yesterday, approaching the 104 mark due to the unexpected decline in US CPI data. The yen, euro and pound all rose against the dollar, with the yen in particular strengthening sharply, sparking speculation about intervention.
Gold:
Prices rose more than 2% yesterday, breaking through the $2,400 per ounce mark, affected by the unexpected decline in US consumer prices in June. The intraday increase exceeded $40, setting a new high since May 22.
Taiwan stocks:
Performed strongly, the weighted index opened with a gap and set a new high. Semiconductor leader TSMC's revenue exceeded expectations, boosting market sentiment. The weighted index closed up 382.95 points, with a turnover of 556.932 billion yuan. Focus on the performance of weighted stocks such as semiconductors, finance and electronics.
US stocks:
The three major indexes rose and fell, the S&P 500 and Nasdaq ended the trend of setting new highs for several days, and the Dow Jones closed slightly higher. Technology stocks encountered selling pressure, and the stocks of the seven giants such as Nvidia and Tesla fell sharply.
European stock market:
Major European stock indices closed higher, with the German DAX30 index, the British FTSE 100 index, the French CAC40 index and the European Stoxx 50 index all recording gains, influenced by the overall positive trend of global stock markets.
Hong Kong stocks:
The Hang Seng Index rebounded strongly, rising by more than 2% after opening low and closing high throughout the day. Technology stocks and biopharmaceutical stocks performed outstandingly, with stocks such as Xiaopeng Motors and Ideal Motors rising sharply, while stocks such as China Resources Power fell.
A-share market:
The three major indexes opened higher and closed higher, with the Shanghai Composite Index and Shenzhen Component Index rising by more than 1%, and the ChiNext Index rising by more than 2%. Nonferrous metals and new energy vehicle sectors performed strongly, with some stocks hitting the daily limit.
Vietnam stock market:
After two consecutive trading days of decline, affected by external market sentiment, the weakening of bulls led to a market adjustment. Foreign capital turned to a net buying state yesterday, but the overall market was still weak.
Foreign exchange market:
The US dollar index fell yesterday, approaching the 104 mark due to the unexpected decline in US CPI data. The yen, euro and pound all rose against the dollar, with the yen in particular strengthening sharply, sparking speculation about intervention.
Global Financial News - July 15, 2024
Gold market:
Prices remained at the $2,410 mark, with three consecutive positive weekly lines, and fell slightly by 0.19% this week to $2,410.78/ounce. Spot silver closed down 2.12% at $30.78/ounce. Investors' confidence in the Fed's upcoming rate cut has increased, supporting gold prices.
China's stock market:
Slightly rebounded, with the Shanghai Composite Index up 0.7% during the week, the CSI 300 up 1.2%, and the Science and Technology Innovation 50 and ChiNext Index up 2.8% and 1.7% respectively. The turnover rebounded to nearly 700 billion yuan, with a net inflow of about 15.9 billion yuan from the north. Electronics and communications led the gains, and the concept of driverless driving led to a surge in the automotive industry.
Taiwan stock market: TSMC ADR rose 1.54%, and the Taiwan Index rose 241 points (1.01%) in the night session. It is expected that the Taiwan stock market will open higher and regain 24,000 points today under the stimulation of the rise of the US stock market, and fluctuate at the intraday high. Short-term view: Last Friday, the Taiwan stock market opened lower and fell below the five-day line, forming an island reversal in shape, which is not conducive to the short-term rise of the Taiwan stock market, and the possibility of further decline cannot be ruled out. Hong Kong stock market: The Hang Seng Index, Hang Seng China Enterprises Index and MSCI Index rose 2.8%, 2.4% and 2.7% respectively last week, and the Hang Seng Technology Index rose 5.2% in a single week. Growth sectors such as discretionary consumption and media entertainment led the gains, while energy and utilities performed relatively weakly. US stock market:
US stocks performed strongly last week, with the Dow Jones and S&P 500 rising 1.59% and 0.87% respectively, and the Nasdaq rising 0.25%. Some technology stocks such as Meta, Microsoft, Google A, Amazon, and Tesla fell, but the Nasdaq China Golden Dragon Index rose 4.15%, and stocks such as Baidu and Xiaopeng Motors rose significantly.
European stock markets:
European stocks closed higher, with the pan-European STOXX 600 index up nearly 0.9% and the eurozone blue-chip index up 1.3%. France's CAC-40 index rose 1.3%, Germany's DAX index closed up 1.15%, and the UK's FTSE 100 index closed up 0.36%. Positive corporate earnings and expectations of a Fed rate cut boosted market sentiment.
Foreign exchange market:
The US dollar index closed down 0.24% at 104.09 at the end of last week, having earlier hit 104.04, the lowest since June 7. The euro rose 0.36% against the dollar to $1.0904, and the pound rose 0.59% against the dollar to $1.2985. Japan intervened in the market to support the yen exchange rate, and the dollar fell 0.56% against the yen to 157.91 yen.
Gold market:
Prices remained at the $2,410 mark, with three consecutive positive weekly lines, and fell slightly by 0.19% this week to $2,410.78/ounce. Spot silver closed down 2.12% at $30.78/ounce. Investors' confidence in the Fed's upcoming rate cut has increased, supporting gold prices.
China's stock market:
Slightly rebounded, with the Shanghai Composite Index up 0.7% during the week, the CSI 300 up 1.2%, and the Science and Technology Innovation 50 and ChiNext Index up 2.8% and 1.7% respectively. The turnover rebounded to nearly 700 billion yuan, with a net inflow of about 15.9 billion yuan from the north. Electronics and communications led the gains, and the concept of driverless driving led to a surge in the automotive industry.
Taiwan stock market: TSMC ADR rose 1.54%, and the Taiwan Index rose 241 points (1.01%) in the night session. It is expected that the Taiwan stock market will open higher and regain 24,000 points today under the stimulation of the rise of the US stock market, and fluctuate at the intraday high. Short-term view: Last Friday, the Taiwan stock market opened lower and fell below the five-day line, forming an island reversal in shape, which is not conducive to the short-term rise of the Taiwan stock market, and the possibility of further decline cannot be ruled out. Hong Kong stock market: The Hang Seng Index, Hang Seng China Enterprises Index and MSCI Index rose 2.8%, 2.4% and 2.7% respectively last week, and the Hang Seng Technology Index rose 5.2% in a single week. Growth sectors such as discretionary consumption and media entertainment led the gains, while energy and utilities performed relatively weakly. US stock market:
US stocks performed strongly last week, with the Dow Jones and S&P 500 rising 1.59% and 0.87% respectively, and the Nasdaq rising 0.25%. Some technology stocks such as Meta, Microsoft, Google A, Amazon, and Tesla fell, but the Nasdaq China Golden Dragon Index rose 4.15%, and stocks such as Baidu and Xiaopeng Motors rose significantly.
European stock markets:
European stocks closed higher, with the pan-European STOXX 600 index up nearly 0.9% and the eurozone blue-chip index up 1.3%. France's CAC-40 index rose 1.3%, Germany's DAX index closed up 1.15%, and the UK's FTSE 100 index closed up 0.36%. Positive corporate earnings and expectations of a Fed rate cut boosted market sentiment.
Foreign exchange market:
The US dollar index closed down 0.24% at 104.09 at the end of last week, having earlier hit 104.04, the lowest since June 7. The euro rose 0.36% against the dollar to $1.0904, and the pound rose 0.59% against the dollar to $1.2985. Japan intervened in the market to support the yen exchange rate, and the dollar fell 0.56% against the yen to 157.91 yen.
Global Financial Morning News - July 16, 2024
Gold market:
Gold strengthened after Trump's assassination, approaching the $2,440/ounce mark during the session, and finally closed up 0.46%. Spot silver closed down 0.37%. The market expects that the Federal Reserve may cut interest rates, which supports the rise in gold prices.
US stocks:
The Dow Jones Index closed up 0.5%, setting a new record high; the S&P 500 Index rose 0.28%, and the Nasdaq rose 0.4%. Trump Media Technology Group (DJT.O) rose 31%, Tesla (TSLA.O) rose 1.7%, and Apple (AAPL.O) rose 1.6%.
European stock markets:
All fell, with the German DAX30 index closing down 0.84%, the British FTSE 100 index closing down 0.85%, and the European STOXX 50 index closing down 1.19%.
Hong Kong stocks:
The Hang Seng Index closed down 1.52%, and the Hang Seng Technology Index closed down 2.9%. Among individual stocks, coal stocks and gold stocks bucked the trend, but most stocks performed poorly.
Chinese stock market:
The three major indexes fluctuated weakly throughout the day, with the Shanghai Composite Index slightly up 0.09%, the Shenzhen Component Index down 0.59%, and the ChiNext Index down 0.63%. Pork concept stocks strengthened, and banks were active, but overall trading volume was sluggish.
Vietnam Index:
It fell slightly by 0.07% to 1,279.82 points, falling for the fourth consecutive day. Market liquidity is extremely low, and investors are cautiously waiting for the second quarter earnings report.
Foreign exchange market:
Due to the impact of Trump's assassination, the US dollar index rose briefly and then closed down. The euro fell 0.09% against the US dollar to $1.0897. The British pound fell 0.22% against the US dollar to $1.2964.
Cryptocurrencies:
Both Bitcoin and Ethereum rose, with Bitcoin rising more than 6% to $63,808 and Ethereum rising more than 7% to $3,417.20.
Gold market:
Gold strengthened after Trump's assassination, approaching the $2,440/ounce mark during the session, and finally closed up 0.46%. Spot silver closed down 0.37%. The market expects that the Federal Reserve may cut interest rates, which supports the rise in gold prices.
US stocks:
The Dow Jones Index closed up 0.5%, setting a new record high; the S&P 500 Index rose 0.28%, and the Nasdaq rose 0.4%. Trump Media Technology Group (DJT.O) rose 31%, Tesla (TSLA.O) rose 1.7%, and Apple (AAPL.O) rose 1.6%.
European stock markets:
All fell, with the German DAX30 index closing down 0.84%, the British FTSE 100 index closing down 0.85%, and the European STOXX 50 index closing down 1.19%.
Hong Kong stocks:
The Hang Seng Index closed down 1.52%, and the Hang Seng Technology Index closed down 2.9%. Among individual stocks, coal stocks and gold stocks bucked the trend, but most stocks performed poorly.
Chinese stock market:
The three major indexes fluctuated weakly throughout the day, with the Shanghai Composite Index slightly up 0.09%, the Shenzhen Component Index down 0.59%, and the ChiNext Index down 0.63%. Pork concept stocks strengthened, and banks were active, but overall trading volume was sluggish.
Vietnam Index:
It fell slightly by 0.07% to 1,279.82 points, falling for the fourth consecutive day. Market liquidity is extremely low, and investors are cautiously waiting for the second quarter earnings report.
Foreign exchange market:
Due to the impact of Trump's assassination, the US dollar index rose briefly and then closed down. The euro fell 0.09% against the US dollar to $1.0897. The British pound fell 0.22% against the US dollar to $1.2964.
Cryptocurrencies:
Both Bitcoin and Ethereum rose, with Bitcoin rising more than 6% to $63,808 and Ethereum rising more than 7% to $3,417.20.
Global Financial Morning Report-July 17, 2024
Gold Market
Gold prices hit a record high, with spot gold closing up 1.93% at $2,468.40 per ounce. Spot silver closed up 1.87% at $31.23 per ounce. Investors are risk-averse, supported by hawkish comments from Fed officials.
Foreign Exchange Market
The U.S. dollar index fell after rising to 104.51, and finally closed down 0.01% at 104.24. The euro fell 0.03% against the U.S. dollar to $1.0891. The U.S. dollar rose 0.28% against the yen to 158.46 yen.
Taiwan Stocks
The Taiwan stock market is paying attention to TSMC's corporate briefing, which is expected to affect the trend of the Taiwan stock market. The market is looking forward to whether TSMC will adjust its full-year financial forecast. The Taiwan stock market rose overall, and the disk focused on sectors such as construction, Apple concept stocks, and information services.
US stocks
The US stock market performed strongly on Tuesday, with the Dow Jones Industrial Average closing up 1.85%, setting a new closing high, the S&P 500 up 0.64%, and the Nasdaq Composite up 0.2%. Tesla (TSLA.O) closed up 1.5%, while Nvidia (NVDA.O) fell 1.6%.
European stocks
European stocks fell overall, with major stock indexes falling across the board. Germany's DAX30 index closed down 0.39%, the UK's FTSE 100 index fell 0.22%, and the European Stoxx 50 index fell 0.71%.
Hong Kong stocks
The Hong Kong stock market remained volatile at a low level, with the Hang Seng Index closing down 1.6% and the Hang Seng Technology Index down 1.35%. On the market, Alibaba concept stocks, insurance stocks, mobile game stocks, and online education stocks led the decline, while Apple concept stocks and gold stocks rose the most.
A shares
China's three major stock indexes rose across the board, with the Shanghai and Shenzhen stock markets performing strongly. The Shanghai Composite Index rose 0.08%, the Shenzhen Component Index rose 0.86%, and the ChiNext Index rose the most, up 1.39%. The sectors with the highest growth rates include semiconductors, automobiles, photovoltaics, etc.
Gold Market
Gold prices hit a record high, with spot gold closing up 1.93% at $2,468.40 per ounce. Spot silver closed up 1.87% at $31.23 per ounce. Investors are risk-averse, supported by hawkish comments from Fed officials.
Foreign Exchange Market
The U.S. dollar index fell after rising to 104.51, and finally closed down 0.01% at 104.24. The euro fell 0.03% against the U.S. dollar to $1.0891. The U.S. dollar rose 0.28% against the yen to 158.46 yen.
Taiwan Stocks
The Taiwan stock market is paying attention to TSMC's corporate briefing, which is expected to affect the trend of the Taiwan stock market. The market is looking forward to whether TSMC will adjust its full-year financial forecast. The Taiwan stock market rose overall, and the disk focused on sectors such as construction, Apple concept stocks, and information services.
US stocks
The US stock market performed strongly on Tuesday, with the Dow Jones Industrial Average closing up 1.85%, setting a new closing high, the S&P 500 up 0.64%, and the Nasdaq Composite up 0.2%. Tesla (TSLA.O) closed up 1.5%, while Nvidia (NVDA.O) fell 1.6%.
European stocks
European stocks fell overall, with major stock indexes falling across the board. Germany's DAX30 index closed down 0.39%, the UK's FTSE 100 index fell 0.22%, and the European Stoxx 50 index fell 0.71%.
Hong Kong stocks
The Hong Kong stock market remained volatile at a low level, with the Hang Seng Index closing down 1.6% and the Hang Seng Technology Index down 1.35%. On the market, Alibaba concept stocks, insurance stocks, mobile game stocks, and online education stocks led the decline, while Apple concept stocks and gold stocks rose the most.
A shares
China's three major stock indexes rose across the board, with the Shanghai and Shenzhen stock markets performing strongly. The Shanghai Composite Index rose 0.08%, the Shenzhen Component Index rose 0.86%, and the ChiNext Index rose the most, up 1.39%. The sectors with the highest growth rates include semiconductors, automobiles, photovoltaics, etc.
Global Financial Morning News - July 18, 2024
Gold market:
Gold prices hit a record high at one point, and the market's optimism about the Federal Reserve's interest rate cut in September has continued to heat up, and the weakening US dollar has boosted gold demand. Spot gold hit a record high of $2,482.29 earlier in the session and saw profit-taking. Investors continue to pay attention to the potential impact of US economic data and interest rate cut prospects on gold prices.
Taiwan stock market dynamics:
The Taiwan stock market will focus on TSMC's corporate meeting today, and the market is looking forward to whether there will be good news. At the same time, the improvement in global economic growth expectations and the dovish remarks of Federal Reserve officials have boosted the appetite for risky assets, but the US-China trade tensions have brought some pressure to Taiwan's technology stocks.
US stock market:
US stocks performed differently yesterday, with the Dow Jones continuing to hit a new high, up 0.59%, while the Nasdaq fell 2.77% and the S&P 500 also fell 1.39%. Technology stocks led the decline, and large technology stocks such as Tesla and Nvidia were generally sold off. Some analysts pointed out that they were affected by concerns about the trade war and semiconductor supply chain issues.
European stock market:
Major European stock indexes rose and fell. The German DAX30 index closed down 0.44%, the British FTSE 100 index closed up 0.28%, and the European Stoxx 50 index closed down 1.14%. Market sentiment fluctuates due to the global economic outlook and expectations of the Federal Reserve's monetary policy.
Hong Kong stock market:
The three major indexes of the Hong Kong stock market rose and fell. The Hang Seng Technology Index rose 0.5%, the Hang Seng Index rose slightly by 0.06%, but the state-owned enterprise index fell 0.3%. Technology stocks and biopharmaceutical stocks performed relatively strongly, while oil stocks, semiconductor stocks and gold stocks fell.
A-share market:
Yesterday, A-shares performed mixed, and the Shanghai and Shenzhen stock indices fluctuated slightly. However, the Beijing Stock Exchange 50 Index rose 7.2%, showing the activity of some market segments. The liquor, insurance and state-owned enterprise reform sectors have attracted market attention.
Foreign exchange market:
The US dollar index fell to a four-month low of 103.76 yesterday, mainly affected by signs of weakness in the US economy and expectations of a rate cut by the Federal Reserve. The euro rose to $1.0937 against the US dollar, while the yen strengthened sharply against the US dollar, closing at 156.25 yen against the yen.
Gold market:
Gold prices hit a record high at one point, and the market's optimism about the Federal Reserve's interest rate cut in September has continued to heat up, and the weakening US dollar has boosted gold demand. Spot gold hit a record high of $2,482.29 earlier in the session and saw profit-taking. Investors continue to pay attention to the potential impact of US economic data and interest rate cut prospects on gold prices.
Taiwan stock market dynamics:
The Taiwan stock market will focus on TSMC's corporate meeting today, and the market is looking forward to whether there will be good news. At the same time, the improvement in global economic growth expectations and the dovish remarks of Federal Reserve officials have boosted the appetite for risky assets, but the US-China trade tensions have brought some pressure to Taiwan's technology stocks.
US stock market:
US stocks performed differently yesterday, with the Dow Jones continuing to hit a new high, up 0.59%, while the Nasdaq fell 2.77% and the S&P 500 also fell 1.39%. Technology stocks led the decline, and large technology stocks such as Tesla and Nvidia were generally sold off. Some analysts pointed out that they were affected by concerns about the trade war and semiconductor supply chain issues.
European stock market:
Major European stock indexes rose and fell. The German DAX30 index closed down 0.44%, the British FTSE 100 index closed up 0.28%, and the European Stoxx 50 index closed down 1.14%. Market sentiment fluctuates due to the global economic outlook and expectations of the Federal Reserve's monetary policy.
Hong Kong stock market:
The three major indexes of the Hong Kong stock market rose and fell. The Hang Seng Technology Index rose 0.5%, the Hang Seng Index rose slightly by 0.06%, but the state-owned enterprise index fell 0.3%. Technology stocks and biopharmaceutical stocks performed relatively strongly, while oil stocks, semiconductor stocks and gold stocks fell.
A-share market:
Yesterday, A-shares performed mixed, and the Shanghai and Shenzhen stock indices fluctuated slightly. However, the Beijing Stock Exchange 50 Index rose 7.2%, showing the activity of some market segments. The liquor, insurance and state-owned enterprise reform sectors have attracted market attention.
Foreign exchange market:
The US dollar index fell to a four-month low of 103.76 yesterday, mainly affected by signs of weakness in the US economy and expectations of a rate cut by the Federal Reserve. The euro rose to $1.0937 against the US dollar, while the yen strengthened sharply against the US dollar, closing at 156.25 yen against the yen.
July 19, 2024 - Global Financial Morning News
Gold market:
Although the price of gold has fallen, it still remains near its historical high. Gold investors can continue to pay attention to the Fed's policy expectations, the ECB's policies, and US economic data.
Taiwan stock market:
The Taiwan stock market was positively affected by TSMC's second-quarter performance, but the ADR market reacted flatly. The main stock indexes of the Taiwan stock market are facing certain adjustment pressures on the technical side, and the weighted index has gapped down. In the short term, attention should be paid to the possibility of technical corrections.
US stock market:
The main US stock indexes closed generally lower, with the Dow Jones Index down 1.29%, the S&P 500 down 0.78%, and the Nasdaq down 0.7%. Some individual stocks such as Nvidia rose against the trend, but technology stocks were generally under pressure, with Apple, Amazon and Google falling sharply.
European stock market:
Major European stock indices rose and fell, with the German DAX30 index closing down 0.45%, the British FTSE 100 index closing up 0.21%, and the European STOXX 50 index closing down 0.44%. The euro fell against the dollar, reflecting the market impact of the European Central Bank's decision to keep interest rates unchanged.
Hong Kong stock market:
The Hong Kong Hang Seng Index closed up 0.22%, while the Hang Seng Technology Index fell 0.76%. Photovoltaic solar stocks, telecommunications equipment stocks and power stocks performed strongly on the market, while online education stocks and Chinese stocks returning to Hong Kong fell sharply.
Foreign exchange market:
In the foreign exchange market, the US dollar index rose to 104.18, the largest single-day increase since June 13. The euro fell against the US dollar, the largest single-day drop in a month, to $1.0897. The US dollar rose 0.7% against the yen to 157.26 yen.
Gold market:
Although the price of gold has fallen, it still remains near its historical high. Gold investors can continue to pay attention to the Fed's policy expectations, the ECB's policies, and US economic data.
Taiwan stock market:
The Taiwan stock market was positively affected by TSMC's second-quarter performance, but the ADR market reacted flatly. The main stock indexes of the Taiwan stock market are facing certain adjustment pressures on the technical side, and the weighted index has gapped down. In the short term, attention should be paid to the possibility of technical corrections.
US stock market:
The main US stock indexes closed generally lower, with the Dow Jones Index down 1.29%, the S&P 500 down 0.78%, and the Nasdaq down 0.7%. Some individual stocks such as Nvidia rose against the trend, but technology stocks were generally under pressure, with Apple, Amazon and Google falling sharply.
European stock market:
Major European stock indices rose and fell, with the German DAX30 index closing down 0.45%, the British FTSE 100 index closing up 0.21%, and the European STOXX 50 index closing down 0.44%. The euro fell against the dollar, reflecting the market impact of the European Central Bank's decision to keep interest rates unchanged.
Hong Kong stock market:
The Hong Kong Hang Seng Index closed up 0.22%, while the Hang Seng Technology Index fell 0.76%. Photovoltaic solar stocks, telecommunications equipment stocks and power stocks performed strongly on the market, while online education stocks and Chinese stocks returning to Hong Kong fell sharply.
Foreign exchange market:
In the foreign exchange market, the US dollar index rose to 104.18, the largest single-day increase since June 13. The euro fell against the US dollar, the largest single-day drop in a month, to $1.0897. The US dollar rose 0.7% against the yen to 157.26 yen.
July 22, 2024 - Global Financial Morning News
Gold market:
Due to investor concerns caused by global network failures, it fell sharply, once falling below the 2,400 mark, and recorded three consecutive weekly declines. The strong rise of the US dollar index is one of the main reasons, which has led to large-scale profit-taking by investors.
Taiwan stock market:
Facing the dual pressure of political issues and technical aspects, it has fallen for several days recently due to the performance of US stocks and global market uncertainty. However, TSMC announced an increase in its full-year capital expenditure budget for 2024, which has a positive impact on some stocks.
US stock market:
Last week, the overall market showed varying degrees of decline. The Dow Jones Index rose 0.72%, but the Nasdaq and S&P 500 fell 3.65% and 1.97% respectively. Technology stocks generally performed weakly, including Tesla, Nvidia, Microsoft, Amazon, Google, Apple and Meta.
European stock market:
Major stock indexes closed down across the board, with the German DAX30 index falling the most, closing down 1.00%; the British FTSE 100 index fell 0.60%; and the European Stoxx 50 index also fell 0.88%.
Hong Kong stock market:
After a major adjustment, the Hang Seng Technology Index fell 6.5% for the week, the Hang Seng China Enterprises Index fell 5.6% for the week, and the Hang Seng Index fell 4.8% this week. The performance of the sectors was mixed, with media entertainment and real estate leading the decline, while diversified finance and healthcare performed strongly.
Foreign exchange market:
The US dollar index rose for the second consecutive trading day, ending a two-week decline, up 0.24% to 104.39. It rose 0.07% against the Japanese yen to 157.48 yen; fell 0.16% against the euro to $1.0878; and fell 0.25% against the British pound to $1.2909.
Gold market:
Due to investor concerns caused by global network failures, it fell sharply, once falling below the 2,400 mark, and recorded three consecutive weekly declines. The strong rise of the US dollar index is one of the main reasons, which has led to large-scale profit-taking by investors.
Taiwan stock market:
Facing the dual pressure of political issues and technical aspects, it has fallen for several days recently due to the performance of US stocks and global market uncertainty. However, TSMC announced an increase in its full-year capital expenditure budget for 2024, which has a positive impact on some stocks.
US stock market:
Last week, the overall market showed varying degrees of decline. The Dow Jones Index rose 0.72%, but the Nasdaq and S&P 500 fell 3.65% and 1.97% respectively. Technology stocks generally performed weakly, including Tesla, Nvidia, Microsoft, Amazon, Google, Apple and Meta.
European stock market:
Major stock indexes closed down across the board, with the German DAX30 index falling the most, closing down 1.00%; the British FTSE 100 index fell 0.60%; and the European Stoxx 50 index also fell 0.88%.
Hong Kong stock market:
After a major adjustment, the Hang Seng Technology Index fell 6.5% for the week, the Hang Seng China Enterprises Index fell 5.6% for the week, and the Hang Seng Index fell 4.8% this week. The performance of the sectors was mixed, with media entertainment and real estate leading the decline, while diversified finance and healthcare performed strongly.
Foreign exchange market:
The US dollar index rose for the second consecutive trading day, ending a two-week decline, up 0.24% to 104.39. It rose 0.07% against the Japanese yen to 157.48 yen; fell 0.16% against the euro to $1.0878; and fell 0.25% against the British pound to $1.2909.
July 23, 2024 - Global Financial Morning News
Gold market:
Gold prices fell to their lowest point in more than a week, mainly affected by the strengthening of the US dollar. Spot gold closed down to $2,396.20 per ounce, and US gold futures closed down to $2,394.70. Investors are waiting for more US economic data and speeches by Federal Reserve officials later this week to get more clues about the timetable for rate cuts.
US stock market:
The overall performance of US stocks was strong, with the Nasdaq up 1.58%, the S&P 500 up 1.08%, and the Dow up 0.32%. Large technology stocks performed well, with Tesla, Nvidia and other stocks rising by more than 4%. However, CrowdStrike's stock price recorded its largest two-day drop in history.
European stock market:
Major European stock indexes rose across the board, with Germany's DAX30 index closing up 1.29%, Britain's FTSE 100 index closing up 0.53%, and Europe's Stoxx 50 index closing up 0.45%. European stocks were boosted by the strong performance of US stocks.
Foreign exchange market:
The dollar rose slightly, with the dollar index rising to 104.32, and the dollar fell slightly against the yen to 157.10 yen. The euro was flat against the dollar at $1.0886, and the Australian dollar fell against the dollar to $0.6640.
Gold market:
Gold prices fell to their lowest point in more than a week, mainly affected by the strengthening of the US dollar. Spot gold closed down to $2,396.20 per ounce, and US gold futures closed down to $2,394.70. Investors are waiting for more US economic data and speeches by Federal Reserve officials later this week to get more clues about the timetable for rate cuts.
US stock market:
The overall performance of US stocks was strong, with the Nasdaq up 1.58%, the S&P 500 up 1.08%, and the Dow up 0.32%. Large technology stocks performed well, with Tesla, Nvidia and other stocks rising by more than 4%. However, CrowdStrike's stock price recorded its largest two-day drop in history.
European stock market:
Major European stock indexes rose across the board, with Germany's DAX30 index closing up 1.29%, Britain's FTSE 100 index closing up 0.53%, and Europe's Stoxx 50 index closing up 0.45%. European stocks were boosted by the strong performance of US stocks.
Foreign exchange market:
The dollar rose slightly, with the dollar index rising to 104.32, and the dollar fell slightly against the yen to 157.10 yen. The euro was flat against the dollar at $1.0886, and the Australian dollar fell against the dollar to $0.6640.
July 25, 2024 - Global Financial Morning News
Gold market:
Gold prices fluctuated under the influence of a weaker U.S. dollar and market expectations that the Federal Reserve may cut interest rates. It initially rebounded to more than $2,430, but then plunged due to traders' profit-taking, falling 0.46%.
Taiwan stock market:
Affected by the typhoon, Taiwan's stock market stopped trading for the second consecutive day. Taipei and other places announced that they would stop working and attending classes on Thursday, resulting in the closure of Taiwan's stock, foreign exchange and bond markets, and the delivery date was postponed.
U.S. stock market:
Major U.S. stock indexes fell across the board. The Nasdaq index fell 3.64%, the largest single-day drop since October 2022; the S&P 500 fell 2.31%, the largest single-day drop since December 2022; and the Dow Jones Industrial Average fell 1.25%.
Large-cap technology stocks fell across the board, with Tesla falling more than 12%, Nvidia falling more than 6%, Meta and Google falling more than 5%, Microsoft falling more than 3%, and Apple and Amazon falling more than 2%. The combined market value of the "Seven Giants" of technology evaporated by more than US$750 billion in a single day.
A-share market:
The Shanghai Composite Index fell 0.46%, the Shenzhen Component Index fell 1.32%, and the ChiNext Index fell 1.23%. Intelligent transportation, automobile, game, and pork sectors performed the worst, while wind power, copper cable high-speed connection, liquid cooling server, and military equipment sectors were relatively strong.
Hong Kong stock market:
The Hang Seng Index fell 0.91%, the state-owned enterprise index fell 0.85%, and the Hang Seng Technology Index fell 1.52%. Large technology stocks were under pressure, and semiconductor, beer, automobile, and biotechnology stocks generally fell; some stocks such as electricity, water, high-speed rail infrastructure and coal performed strongly.
Foreign exchange market:
The US dollar hit its lowest level against the yen in more than two months, and the market closed its carry trade shorting the yen before the Bank of Japan's meeting next week. The dollar index fell to 104.35, and the dollar fell 1.07% against the yen, hitting its lowest level since May 6; the euro fell to 166.915 yen against the yen, hitting a new low since May 8.
Gold market:
Gold prices fluctuated under the influence of a weaker U.S. dollar and market expectations that the Federal Reserve may cut interest rates. It initially rebounded to more than $2,430, but then plunged due to traders' profit-taking, falling 0.46%.
Taiwan stock market:
Affected by the typhoon, Taiwan's stock market stopped trading for the second consecutive day. Taipei and other places announced that they would stop working and attending classes on Thursday, resulting in the closure of Taiwan's stock, foreign exchange and bond markets, and the delivery date was postponed.
U.S. stock market:
Major U.S. stock indexes fell across the board. The Nasdaq index fell 3.64%, the largest single-day drop since October 2022; the S&P 500 fell 2.31%, the largest single-day drop since December 2022; and the Dow Jones Industrial Average fell 1.25%.
Large-cap technology stocks fell across the board, with Tesla falling more than 12%, Nvidia falling more than 6%, Meta and Google falling more than 5%, Microsoft falling more than 3%, and Apple and Amazon falling more than 2%. The combined market value of the "Seven Giants" of technology evaporated by more than US$750 billion in a single day.
A-share market:
The Shanghai Composite Index fell 0.46%, the Shenzhen Component Index fell 1.32%, and the ChiNext Index fell 1.23%. Intelligent transportation, automobile, game, and pork sectors performed the worst, while wind power, copper cable high-speed connection, liquid cooling server, and military equipment sectors were relatively strong.
Hong Kong stock market:
The Hang Seng Index fell 0.91%, the state-owned enterprise index fell 0.85%, and the Hang Seng Technology Index fell 1.52%. Large technology stocks were under pressure, and semiconductor, beer, automobile, and biotechnology stocks generally fell; some stocks such as electricity, water, high-speed rail infrastructure and coal performed strongly.
Foreign exchange market:
The US dollar hit its lowest level against the yen in more than two months, and the market closed its carry trade shorting the yen before the Bank of Japan's meeting next week. The dollar index fell to 104.35, and the dollar fell 1.07% against the yen, hitting its lowest level since May 6; the euro fell to 166.915 yen against the yen, hitting a new low since May 8.
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