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Market Insights: Jan 2, 2024

TraderKnows
TraderKnows
01-03

Gaming stocks bounced back, and Tencent's share price regained above 300 Hong Kong dollars. The Chinese stock market plunged nearly 60%, entering a bear market.

Stock Market and Investments:

  1. Chinese Stock Market Updates: The ChiNext board experienced a decline of over 1%, while the Ji Yun Index reached its daily limit up. Gaming stocks rebounded, with Tencent's stock price surpassing HKD 300. Industrial and Commercial Bank of China (ICBC) suffered a significant drop of over 8%.
  2. Oil Prices Rise Amid Ongoing Red Sea Conflict: Oil prices saw an increase in Asian trading sessions, attributed to the ongoing Red Sea conflict.
  3. Dow Jones Futures on the Rise: Following a strong performance in 2023, Dow Jones futures have started to climb.
  4. Outlook for Chinese and Hong Kong Stock Markets: The Hang Seng Index faced a cumulative decline of 2734 points in 2023, and the first trading day of 2024 is expected to witness a valuation recovery.
  5. Chinese Stock Market Decline: The Chinese stock market recently plummeted by nearly 60%, entering a bear market, but it has been attracting investors betting on a market rebound.

Economic Policies and Finance:

  1. Surprise Growth in Chinese Manufacturing Activity: According to Caixin PMI data, China's manufacturing activity in December exceeded expectations.
  2. Comments by Han Wenxiu on Balancing Stability and Progress: Emphasizing the need for caution when implementing contractionary and inhibitory measures.
  3. Partial Revoke of ASML Photolithography Machine Export Licenses: Export licenses for ASML's 2050 and 2100 photolithography machines have been partially revoked.

Other:

  1. Accelerated Growth in Chinese Factory Activity: Caixin PMI data reveals that Chinese factory activity in December accelerated.
  2. Decline in Residential Land Transaction Area in China: The transaction area for residential land in 300 Chinese cities has declined by 23% within a year.
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Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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