Financial Daily: All three major US indexes rose! Technology stocks rebound strongly, S&P nears historical high

- Focus

– UK Prime Minister Starmer on Monday stated his refusal to bow to external pressure demanding his resignation

– Google parent company Alphabet plans to issue $20 billion in bonds

– Musk says SpaceX shifts focus to the moon, aiming to build a city on the moon within 10 years

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- Stock Market

[US Market] US stocks continue their rebound momentum as the three major indexes close higher

The US stock market continued its rebound with further gains. The technology sector staged a strong recovery as significant capital flowed into US stocks, 'buying the dip' in tech stocks that had plunged due to 'overreaction.' This drove all three major US indices higher, with the S&P 500 nearing historical highs, and the Dow Jones Industrial Average closing at record highs for two consecutive trading days. Market sentiment remains optimistic.

At the close, the S&P 500 Index rose 0.47% to 6,964.82 points; the Nasdaq Composite Index gained 0.90% to 23,238.67 points; and the Dow Jones Industrial Average edged up 0.04% to 50,135.87 points. The VIX fear index fell by 18.42%. In terms of sectors, photovoltaic, AI robotics, and chip sectors rose over 1%.

The US Big Seven Tech Index closed up 1.02%, with Microsoft rising 3.13%, NVIDIA gaining 2.50%, Meta climbing 2.41%, Tesla increasing 1.51%, and Apple falling nearly 1.2%. The Nasdaq China Golden Dragon Index edged up 0.12% to 7,817.64 points. Among popular Chinese ADRs, 21Vianet surged 5.80%.

[European Market] European main indexes generally rose on Monday, with the STOXX 600 hitting new highs

On Monday, European main indexes generally moved higher, with the STOXX 600 Index reaching a new historical closing high. At the close, the pan-European STOXX 600 Index rose 0.70% to 621.41 points, while the pan-European STOXX 50 Index climbed 1.01% to 6,059.01 points.

Germany's DAX 30 Index gained 1.19% to 25,014.87 points; France's CAC 40 Index rose 0.60% to 8,323.28 points; and the UK FTSE 100 Index increased 0.16% to 10,386.23 points.

[Asian Market] Japanese and Korean indexes surged approximately 4% on Monday

On Monday, Japanese and Korean stock indices surged by about 4%. At the close, the Nikkei 225 Index rose 3.9% to 56,363.94 points, while Japan's TOPIX Index gained 2.3% to 3,783.57 points. South Korea's KOSPI Index climbed 4.1% to 5,298.04 points.

[Hong Kong Market] Hong Kong stocks trended higher with all three major indices closing in positive territory

On Monday, Hong Kong stocks trended higher throughout the day, with all three major indices gaining more than 1%. At the close, the Hang Seng Index rose 1.76% to 27,027.16 points, the Hang Seng Tech Index increased by 1.34% to 5,417.60 points, and the Hang Seng China Enterprises Index climbed 1.52% to 9,168.33 points. In terms of sectors, technology and internet stocks generally strengthened, with semiconductor stocks performing particularly well. SMIC surged over 4%, while Hua Hong Semiconductor rose over 3%. Among insurance stocks, Ping An rose over 4%, and China Life Insurance gained over 3%.

[A-share Market] A-shares opened high and continued upward, with all three major indices closing in positive territory

A-shares opened high and continued upward, with all three major indices closing in positive territory. The ChiNext Index surged nearly 3%, while the Shanghai Composite Index returned above the 4,100-point level. At the close, the Shanghai Composite Index rose 1.41%%, reaching 4,123.09 points; the Shenzhen Component Index climbed 2.17% to 14,208.44 points, and the ChiNext Index surged 2.98% to 3,332.77 points. Regarding sectors, the photovoltaic industry chain saw widespread gains, with several stocks hitting their daily limit. Reports suggest Tesla plans to expand its solar panel manufacturing operations, and multiple top-tier manufacturers have raised prices this year. AI and computing hardware stocks performed strongly, while rare earths, nuclear fusion, semiconductors, and commercial spaceflight sectors strengthened. Hydropower and natural gas sectors lagged behind.

– Bonds

[US Bonds] US Treasury yields fell, with the 10-year Treasury yield dropping 0.8 basis points

US Treasury yields declined. At the New York close, the US 10-year Treasury yield fell 0.8 basis points to 4.198%, and the two-year Treasury yield dropped 1.24 basis points to 3.4851%.

[Non-US Bond Markets] 10-year European government bond yields were mixed.

On Monday, 10-year European government bond yields were mixed. At the European session close, Germany’s 10-year government bond yield fell 0.2 basis points to 2.840%, the UK 10-year government bond yield rose 1.3 basis points to 4.527%, and France’s 10-year government bond yield fell 0.4 basis points.

[China Bond Market] Treasury futures rose across the board on Monday

Treasury futures rose across the board on Monday. As of the close, the 30-year main contract gained 0.14%, the 10-year main contract increased by 0.06%, the 5-year main contract climbed 0.08%, and the 2-year main contract rose 0.04%.

– Foreign exchange

[US Dollar] The US Dollar Index fell on Monday, with the ICE Dollar Index dropping by 0.85%

The US Dollar Index fell on Monday. In late New York trading, the ICE Dollar Index dropped 0.85% to 96.808 points, while the Bloomberg Dollar Index fell 0.68% to 1,182.54 points.

[Non-US Currencies] The US dollar declined against most major currencies, with the Japanese yen rising approximately 0.9%

The US dollar weakened against multiple major currencies, with the Japanese yen gaining about 0.9%. In late New York trading, the US dollar fell 0.91% against the yen to 155.79 yen. The euro rose 0.84% against the dollar, the pound gained 0.60% against the dollar, and the Australian dollar climbed 1.22% against the dollar.

[Renminbi] The offshore renminbi exchange rate was quoted at 6.9152 yuan per US dollar

In late New York trading, the offshore renminbi fell 149 points compared to the previous trading day’s close, reaching 6.9152 yuan per US dollar. The onshore renminbi strengthened 117 points against the dollar from the previous close, ending at 6.9284 yuan per US dollar.

[Cryptocurrency] The cryptocurrency market traded sideways with volatility, as Bitcoin closed above $70,000

The virtual currency market saw volatile but flat trading on Monday. Bitcoin initially dropped before rebounding, forming a V-shaped trend, and eventually closed slightly above $70,000. Ethereum rose modestly by 0.9%.

– Product

[Energy] Crude oil futures prices closed higher

Oil prices closed higher. In the final hours of U.S. stock trading, Brent crude futures rose 1.45%, settling at $69.04 per barrel, while U.S. crude futures climbed 1.27%, settling at $64.36 per barrel.

[Precious Metals] Dollar weakness drove precious metal prices higher, with gold reclaiming $5,000

Precious Metals:A weakening dollar pushed gold prices higher. By the New York close, spot gold was up 2.01% at $5,064.10 per ounce, while U.S. gold futures rose 2.04% to $5,081.50 per ounce.

Metals Futures Market:By the New York close, spot silver surged 6.98% to $83.2699 per ounce, while U.S. silver futures jumped 7.67% to $82.795 per ounce. U.S. copper futures rose 1.31% to $5.9590 per pound. Spot platinum gained 1.34%, and spot palladium added 1.93%.

[Disclaimer]

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