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Market Insights: Apr 19th, 2024

TraderKnows
TraderKnows
04-19

On Friday, the stock market opened lower, with over 3,900 stocks across the market experiencing a decline.

Stock Market Trends:

  1. Main Market Trend: On Friday, April 19, the stock market opened lower and then showed a diverging trend. Before noon, the overall market declined, with the Shanghai Composite Index falling by 0.4%, the Shenzhen Component Index by 1.31%, and the ChiNext Index by 2.2%.
  2. Sector Performance:
  • Technology and Consumer Sectors: Affected by sudden external events, technology and consumer sectors experienced a collective downturn.
  • Energy and Precious Metals Sectors: The energy and precious metals sectors strengthened, following the futures market trend, with stocks like Zijin Mining and CNOOC reaching new highs.
  • Chemical Sector: The chemical sector saw noticeable gains due to capital exploration and follow-up increases.
  • Other Sectors: Traditional Chinese medicine and tire sectors followed independent performance logic.

3. Individual Stock Situation: Overall, there were more decliners than gainers, with over 3,900 stocks falling across the market. The half-day turnover for the Shanghai and Shenzhen stock exchanges was 572.5 billion, a decrease of 46.8 billion from the previous trading day. Regarding northbound capital, there was a net outflow of 2.24 billion in the Shanghai Stock Connect and 2.95 billion in the Shenzhen Stock Connect in the morning session.

Other Markets:

  1. Hong Kong Stock Market Performance: The overall decline in the Hong Kong stock market slightly narrowed, with the Hang Seng Index falling by 1.23% and the Hang Seng Technology Index by 2.6%.
  2. Asia-Pacific Stock Markets: Asia-Pacific stock markets suffered heavy losses, with the MSCI Asia Pacific Index falling by 2% to 166.98 points and the Nikkei 225 index’s loss widening to 3%.
  3. Geo-Political Impact: Geo-political tensions led to heavy losses in Asia-Pacific stock markets, and safe-haven asset prices fell after the security of Iran's nuclear facilities was confirmed.

Financial Markets:

  1. Crude Oil Prices: Crude oil prices fell for four consecutive days, and although there was a brief increase, the gain was limited. The rebound was hindered by comments from high-ranking Fed officials.
  2. Gold Prices: Gold prices experienced significant fluctuations due to the demand for safe-haven assets, with prices pulling back from their highs.
  3. Bitcoin Prices: Bitcoin prices saw a substantial intra-day rebound, surpassing $64,000.

Company Performance:

  1. TSMC Earnings Report: TSMC's first-quarter earnings report showed a net profit of 225.5 billion New Taiwan Dollars, up 8.9% year-over-year, with revenue reaching 5926.4 billion New Taiwan Dollars, up 17% year-over-year, marking the fastest growth in over a year.
  2. Performance Compared to Expectations: TSMC's first-quarter performance met expectations, with rapid revenue growth and a high gross margin.

Japanese Economy:

  1. Japanese CPI Data: Japan's March CPI rose by 2.7% year-over-year, slightly below forecast. Economists believe that, with wage increases announced across various sectors in Japan, inflation risks remain.
  2. Bank of Japan Policy: The Governor of the Bank of Japan explicitly stated that the bank might consider raising interest rates, which is related to the recent depreciation of the yen.
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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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