March 26 Market Review

Biden held his first official press conference since taking office. Biden noted that most economists predict that the GDP growth rate in the United States will exceed 6 percent, and that the new vaccination target is to receive 200 million doses of COVID-19 vaccine within the first 100 days, compared with 100 million doses. The rate of vaccination in the United States has increased rapidly since Biden took office. Biden said the next major move is to rebuild infrastructure and plans to run for re-election in 2024.

According to foreign media reports earlier, two sources said that progressive Democrats in the US House of Representatives are privately discussing how to make the second spending plan proposed by Biden far exceed the $3 trillion in spending over the next 10 years reported by the major news media this week.

The three major indexes of US stocks rose in intraday trading yesterday and rose in late trading, with the Dow closing up 0.62 per cent, the S & P 500 up 0.52 per cent and the Nasdaq up 0.12 per cent. On the day, NFT concept stocks and WSB concept stocks rose, while popular Chinese stocks fell. IQIYI, Inc. and Baidu, Inc. both fell more than 10%, but new energy automobile stocks rose collectively, XPeng Inc. up more than 5%, NIO Inc. and ideal up more than 2%.

Today, the Hang Seng Index closed up more than 400 points, up 1.57% at 28336 points, and the Hang Seng Technology Index rose 2.33% at 8129 points. On the day, among the hot technology stocks, XIAOMI rose more than 9% to close up 6.28%, Meituan rose more than 5%, Tencent rose 2.31%, BABA fell more than 2%, Baidu, Inc. fell more than 5%, property management stocks broke out again, China property soared by more than 25%, tobacco concept stocks rebounded strongly, wind power stocks, automobile stocks, dairy products, photovoltaic stocks, port and shipping stocks, catering stocks generally rose. Sporting goods stocks remained strong, with Anta up 5.61%.

Before the US Stock Market: futures Index rose

Us stocks rose before the day, while Nasdaq futures fell slightly. As of press time, Dow futures are up 0.26%, S & P 500 futures are up 0.26%, and Nasdaq futures are up 0.21%.

Performance of major ETF products in Hong Kong stocks

• Hang Seng Index rose more than 400 points, double bullish Hang Seng Index ETF ended five consecutive declines, closing up more than 3%

The Hang Seng Index is up more than 400 points, up 1.57%.South double bullish Hang Seng Index (07200.HK) $The turnover increased by 3.28% to HK $305 million.South double bearish Hang Seng Index (07300.HK) $Down 1.54%, the turnover reached HK $36.76 millionSouth double bearish Hang Seng Index (07500.HK) $The turnover fell 3.2% to HK $642 million.

• The Hang Seng Technology Index is up more than 2%, and the Southern double long Hang Seng Technology is up nearly 5%.

Hang Seng Technology Index closed up 2.33%Southern double long Hang Seng Technology (07226.HK) $It closed up 4.72%, with a turnover of HK $106 million.Southern Hang Seng Technology (03033.HK) $It rose 2.28%, with a turnover of HK $283 million.

• Shanghai and Shenzhen 300 are up more than 2%, and the south is twice as long as Shanghai and Shenzhen 300 are up more than 4%.

Shanghai and Shenzhen 300 closed up 2.27%.The South is twice as long as Shanghai and Shenzhen 300 (07233.HK) $Up 4.2%, the turnover was HK $24.53 million.South double short Shanghai and Shenzhen 300 (07333.HK) $The turnover fell 2.2% to HK $7.63 million.

• Hong Kong stock market rose by the top 10 ETF

Today, the top 10 gains in the Hong Kong stock market are biotechnology, electric cars, long Hang Seng Technology, Shanghai and Shenzhen 300, the national index and other related ETF.

Performance of major ETF products in US stocks

Us stocks closed higher overnight$ProShares UltraPro 3 times Dow 30 (UDOW.US) $It closed up nearly 2%.

The futures index of US stocks rose before trading today.$ProShares UltraPro 3 times Dow 30 (UDOW.US) $Increase by more than 1%Direxion see more than 3 times as much as S & P 500 per day (SPXL.US) $Up nearly 1%.

In terms of ETF related to the listing of US stocks on the Hong Kong Stock Exchange$Huaxia Direxion double look at the 07261.HK (Donna Index) $Up 0.22%, the turnover reached HK $610000$fi II South Narcotics Index (07568.HK) $The turnover fell by 0.31% to HK $22.48 million.

ETF performance of energy and precious metals

• Losing $400 million for every hour of delay, the Suez Canal "clogs" the global supply chain

The main company of WTI crude oil fell yesterday, closing down more than 4%.Crude Oil Index ETF-ProShares DJ-UBS double long (UCO.US) $Drop by nearly 7%Us crude Oil Fund (USO.US) $It closed down nearly 4%.

Before today's trading, WTI crude oil rose mainly, and is now up 2.36%.Crude Oil Index ETF-ProShares DJ-UBS double long (UCO.US) $It rose by more than 4% before trading.Us crude Oil Fund (USO.US) $It was up more than 2% before trading.

Houthi fighters in Yemen claimed to have used 12 drones and eight ballistic missiles to attack Saudi Aramco's oil facilities in Gizan Ras al Tanura, it was reported on Friday afternoon.

In addition, the blockage of the Suez Canal continues to attract global attention, with authorities warning that the canal loses as much as $400 million per hour per day. "although we believe and hope that the situation will be resolved soon, there is still a risk of shipwreck," JPMorgan Chase & Co strategist Marko Kolanovic wrote in a report on March 25. Under such circumstances, the Suez Canal will be blocked for a long time, which could lead to serious disruptions in global trade, soaring shipping prices, further increases in energy commodity prices and increased global inflation. "

• Gold rose slightly, and gold rose slightly before ETF trading.

In the pre-market period, gold rose slightly and is now up 0.08%.$Gold ETF-SPDR (GLD.US) $It rose 0.07% before trading.

Other ETF manifestations

• Overnight, the US stock market rose by the top 10 ETF.

The ETF of the top 10 gains in the overnight US stock market was mainly long biotechnology, Russell 2000, short crude oil and other related ETF.

• The result of the 7-year US bond auction was not satisfactory, and Powell said it was possible to reduce bond purchases.

Treasury bond yields riseThe yield of $Treasury bond is 30 years (.TYX.US) $It closed up 0.86% yesterday.$Bond 20 + Bond Index ETF-Direxion Triple short (TMV.US) $It closed up 2.23%, up more than 2% before trading.

The U.S. Treasury Department auctioned $62 billion of 7-year Treasurys on Thursday with an interest rate of 1.3%, higher than the pre-issue transaction rate of 1.275% and a bid multiple of 2.23. The subscription result was not very satisfactory. Zero hedging commented that, overall, the market expected the result of the auction to be worse, but it would be better than in February, and the final result was basically in line with expectations, but US bond yields rose in response, indicating that the market was disappointed with the result.

Federal Reserve Chairman Colin Powell said in an interview with NPR on Thursday that the number of Treasuries and mortgage-backed securities purchased will be gradually reduced as the economy improves. And withdraw the support provided during the emergency when the economy has almost fully recovered.