Market Analysis on April 1st

In the first quarter of 2024, the U.S. stock market exhibited strong performance, achieving its best start in five years, with over 10% growth for two consecutive quarters. During this period, tech industry giants had varied performances. Tesla faced a nearly 30% decline in the first quarter, while Nvidia surged over 80%. Apple's stock price dropped over 10% during the same period, while Meta's stock price soared nearly 40%. On the other hand, AI concept stock Palantir fell over 6% due to a downgrade to sell rating, and recently listed Trump Media & Technology Group also suffered over a 6% decline.

On a global scale, European stock markets also demonstrated positive trends, with pan-European indexes as well as those of Germany and France hitting historical highs for five consecutive months and rising for two consecutive quarters.

In the ​bonds market, the Federal Reserve officials signaled a hawkish stance, leading to a rise in the 10-year U.S. Treasury yield, breaking free from a two-week low and increasing by over 30 basis points in the first quarter.

In the ​mmf market, despite the cooling of U.S. PCE inflation data, prompting the ​usd index to turn downwards, the U.S. dollar still maintained a monthly cumulative upward trend, with a total increase of over 3% in the first quarter. Although ​bitcoin fell below the $0.07 million mark in the last week, it still achieved over a 10% increase in March, with a first-quarter increase exceeding 60%, adding over $0.02 million.

In China, the market also showed a rebound on Friday, with the Shanghai Composite Index expanding its gains to 1% in the late trading session. Meanwhile, the offshore renminbi rose over a hundred points during the trading session, breaking a three-month decline trend. In the U.S. stock market, Chinese concept stocks indexes showed volatility, with Xiaomi's auto concept stock performing exceptionally well, soaring 12% in the U.S. stock market.

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