March 26 Review: International turmoil, how about the stock market?
First, Listen to the Story
The Middle East situation remains turbulent, with escalating conflict between Israel and Iran. Iran's imposition of high transit fees on commercial ships in the Strait of Hormuz has caused oil prices to fluctuate higher, leaving energy supply risks unresolved. Meanwhile, Federal Reserve officials stated that the pace of interest rate cuts will depend on the trajectory of inflation and geopolitical conflicts. Market sentiment is cautious under the dual uncertainties of geopolitical risks and monetary policy. The Asia-Pacific market briefly rebounded on easing signals before returning to a wait-and-see stance, with stock market sentiment dampened.
Now, Look at the Broader Market
In the US stock market, the Nasdaq Composite Index rose 0.77%, the Dow Jones Industrial Average rose 0.66%, and the S&P 500 Index rose 0.54%, showing overall slight gains. In the Hong Kong market, the Hang Seng Tech Index fell 3.82%, and the Hang Seng Index fell 1.89%. In the A-share market, the Shanghai Composite Index fell 1.09%, and the Shenzhen Component Index fell 1.41%.
Now Let's Look at Individual Stocks
Advanced Micro Devices (AMD): Closed up 7.26%. It has been fluctuating recently and opened high at a gap due to the hardware price surge. Support levels are around 149/190, resistance levels around 219/262.
NVIDIA (NVDA): Closed up 1.99%. It has been trading in a range recently. The reason for the rise is the same as AMD's. Support levels are around 166/171, resistance levels around 186/193.
PDD Holdings (PDD): Closed up 4.61%. It was very volatile recently. Although the earnings report fell short of expectations, it performed well today. Support levels are around 86/95, resistance levels around 121/139.
Tesla (TSLA): Closed up 0.76%. It has shown a downward trend since the start of the year, with small gains in the past two days. Support levels are around 368/388, resistance levels around 460/492.
Alibaba (BABA): Closed up 3.5%. It shows a trend of rebounding from a decline. Support levels are around 121/146, resistance levels around 180/191.
Micron Technology (MU): Closed down 3.40%. Long and short positions are pulling the stock in a tug-of-war, but the short side remains stronger for now. Support levels are around 218/361, resistance levels around 429/463.
Tencent Holdings (00700.HK): Closed down 1.96%. It seems forming a W bottom is a bit difficult. We'll continue to watch. Support level is around 494, resistance levels around 577/635.
Summary
Amid turbulent international conditions, the stock market also shows volatility. However, the hardware price surge has driven up several stocks. Currently, only the US stock indices look somewhat acceptable, while domestic market sentiment is poor. We'll continue to watch and wait.$NVIDIA(NVDA.US) $Micron Tech(MU.US) $AMD(AMD.US)
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