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Stanley Chik: US Bourse Rebounds; Nvidia Sets New High; H Shrs In Range-bound
Stanley Chik, a research head at Bright Smart, said that the three major U.S. stock indexes bounced back, with JOLTs job vacancies sinking to a nearly three-year low, which reignit...
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Stanley Chik: US Bourse Rebounds; Nvidia Sets New High; H Shrs In Range-bound
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Stanley Chik, a research head at Bright Smart, said that the three major U.S. stock indexes bounced back, with JOLTs job vacancies sinking to a nearly three-year low, which reignited investors' expectations for interest rate cuts. Overnight (4th), the DJIA rebounded 140 pts or 0.36%, while the S&P 500 and the Nasdaq added 0.15% and 0.17% respectively. Nvidia (NVDA.US)      hit a new high, but other techs were in a mixed bag. Apple (AAPL.US)      edged up 0.16%, whereas AMD (AMD.US)      slid 2.18%.

Hong Kong bourse was in range-bound for the second consecutive trading day. After opening 68 pts lower yesterday, it recovered swiftly its losses and picked up. In the afternoon, it hiked to as high as 18,541, but the uptrend failed to sustain. Eventually, the HSI rested at 18,444, up 41 pts. or 0.22%, while the HSTECH lifted 0.32% to close at 3,796. The day's turnover slightly shrank to $116.2 billion. SHENZHOU INTL (02313.HK)  +0.900 (+1.479%)    Short selling $4.20M; Ratio 5.968%   , being the best-performing constituent stock, shot up by 7.6%. ZHONGSHENG HLDG (00881.HK)  +0.280 (+2.443%)    Short selling $19.53M; Ratio 43.216%   also leaped by nearly 7%. However, oils that had been strong earlier ebbed back along with oil prices. CNOOC (00883.HK)  +0.300 (+1.656%)    Short selling $26.17M; Ratio 3.354%   fell 1.9%. PETROCHINA (00857.HK)  +0.070 (+1.188%)    Short selling $15.02M; Ratio 10.287%   and SINOPEC CORP (00386.HK)  +0.080 (+1.826%)    Short selling $36.84M; Ratio 21.914%   sagged 1.7% and 1.8% respectively.

Related NewsPETROCHINA (00857.HK) 3Q NP RMB43.911B, Down 5.3%
In the lack of good news in the market and the fact that MEITUAN-W (03690.HK)  +3.500 (+1.865%)    Short selling $300.17M; Ratio 13.618%   is about to announce its quarterly results, the HSI was expected to maintain in range-bound on see-saw. The support below 18,000 was not weak, but the resistance at 18,600 and 18,800 was still obvious.

(The author is the licensee of SFC, who holds the shares of Nvidia and CNOOC)
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-05 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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