Last night's stock market was comparable to a suspense blockbuster, with ups and downs and climaxes. Although the overall decline in European and American stock markets is not an exaggeration, it is not so simple behind it. In particular, the collective diving of Chinese concept stocks, as if it was an appointment, Huajin Group fell by 18% at once, and Juhao Mall and Fang Duoduo also fell by 14% each, which made many investors begin to panic. However, don't over-interpret this matter, after all, these stocks have risen too sharply in the early stage, and the market always has to take a breath. To put it bluntly, this adjustment is the rhythm of "you have to rest if you rise too much", according to this routine, when you have enough rest, there is a rising channel that is ready to go.
On the oil price side, it has been stepping on the accelerator and has been rising for five consecutive days, and it is about to rush to $74 per barrel. This surge is mainly due to the situation in the Middle East, where the smell of gunpowder between Iran and Israel is getting stronger, and global oil prices are soaring up because of this situation. As soon as oil prices moved, gold was also restless. Last night, gold staged a reversal, first falling frighteningly, then rebounding back to $2,677 an ounce. It seems that the price of oil and gold is really a difficult brother, you rise and I will rise, holding each other back.
Going back to U.S. stocks, the performance of technology stocks is really a love-hate affair, and it is very differentiated. Tesla fell 3.35% directly, but Nvidia rose 3.32%, and the two tech giants sang and harmonized, which is quite interesting. Apple, Microsoft, and Google, although they haven't made any big moves, have also fallen a little. It is worth mentioning that the online education and live broadcast sectors have fallen into a downturn, falling by more than 5%, and the new energy vehicle sector has been beaten down, with Xiaopeng and Weilai both falling by more than 7%. However, refining stocks bucked the trend and rose 5% instead, as if they were going against the market.
The situation in Europe is not much better, with major stock indexes such as Italy's FTSE and France's CAC each falling more than 1%, and global economic uncertainty continues to weigh on European markets.
When it comes to the collective plunge of Chinese concept stocks, in fact, everyone is still staring at the opening of A-shares. After all, A-shares are the vane of Hong Kong stocks and Chinese concept stocks, and the market has high hopes for A-shares, believing that as long as A-shares open steadily, Hong Kong stocks and Chinese concept stocks are expected to pick up and even usher in a wave of rise. Many investors are still quite optimistic, thinking that A-shares are likely to break through the previous high. Despite the uncertainty in global markets, continued volatility in energy markets is also providing support to equities. Overall, this correction did not cause panic, but seemed to be preparing for the next rally, especially in the context of soaring oil prices, and the market is full of anticipation.
So in the end, I would like to ask: what are the ups and downs of this wave of market brewing? Is the pullback of Chinese concept stocks really waiting for the rhythm of A-shares? What do you think about this?