June 2 Market Review

In the context of the gradual improvement of the epidemic in the United States, the manufacturing data exceeded expectations and the contradiction between the superimposed supply chain and the tight labor market kept the stock market in a wait-and-see state. after opening high and weak overnight, the three major indexes of US stocks were basically in a state of narrow shock throughout the day. the Dow rose 0.13%, the Nasdaq fell 0.09%, the S & P 500 fell 0.05%, technology stocks mostly weakened, and hot US stocks generally rose.

Today, the Hang Seng Index opened low and closed low, down 0.58%. Most of the new economy stocks fell back in the afternoon, and the popular medical concepts in the early days cooled somewhat. Weimeng fell more than 4%, NetEase fell more than 3%, Ali fell nearly 2%, Sihuan Pharmaceutical fell more than 5%, and Hao Haisheng fell nearly 7%.

Before the US stock market: ups and downs are mixed

The early days of US stocks were mixed, with Dow futures up 0.14%, S & P 500 up 0.05% and Nasdaq futures down 0.01%.

Performance of major ETF products in Hong Kong stocks

• The Hang Seng Index fell 0.58%, while the South double bearish Hang Seng Index rose 1.59%.

The Hang Seng Index opened low and closed down 0.58%.South double bearish Hang Seng Index (07500.HK) $The turnover increased by 1.59% to HK $199 million.South double bearish Hang Seng Index (07300.HK) $Increased by 0.83%, and the turnover reached HK $5.78 million.South double bullish Hang Seng Index (07200.HK) $The turnover fell by 1.74% to HK $128 million.

• The Hang Seng Technology Index fell nearly 1%, while the South double short Hang Seng Technology ETF rose nearly 2%.
  

Most of the new economy stocks fell in the afternoon, Tencent fell, Weimeng fell more than 4%, NetEase fell more than 3%, Ali fell nearly 2%, and the Hang Seng Science and Technology Index fell nearly 1%.$South double short Hang Seng Technology (07552.HK) $Up 1.78%, the turnover reached HK $70.08 millionSouthern Hang Seng Technology (03033.HK) $The turnover fell by 0.85% to HK $191 million.

• The CSI 300 index fell nearly 1%, and the southern double shorting CSI 300 fell nearly 2%.
  

In the A-share market, individual stocks fell today, all the major stock indexes were lower, and the CSI 300 index fell nearly 1%.South double short Shanghai and Shenzhen 300 (07333.HK) $The turnover increased by 0.61% to HK $3.51 million.The South is twice as long as Shanghai and Shenzhen 300 (07233.HK) $The turnover fell 1.87% to HK $10.7 million.

• Hong Kong stock market rose by the top 10 ETF

The top 10 gains in the Hong Kong stock market today were mainly against the ETF of the Hang Seng Index, the Hang Seng Technology Index and the Nasdaq.

Performance of major ETF products in US stocks

In the context of the gradual improvement of the epidemic in the United States, the contradiction between the manufacturing data exceeding expectations and the tension in the supply chain and the labor market kept the stock market in a wait-and-see state. after opening high and weakening overnight, the three major US stock indexes were basically in a state of narrow shock throughout the day, with the Dow up 0.13%, the Nasdaq down 0.09%, and the S & P 500 down 0.05%.$NASDAQ triple short (SQQQ.US) $It rose nearly 1% yesterday.$S & P 500 ETF-ProShares triple short (SPXU.US) $It rose 0.2% yesterday.$Dow ETF-Proshares triple short (SDOW.US) $It fell 0.18% yesterday.

In terms of ETF related to the listing of US stocks on the Hong Kong Stock Exchange$FI2 Warsaw one hundred (07522.HK) $Increased by more than 1%, with a turnover of HK $1.96 million$Huaxia Direxion double look at the 07261.HK (Donna Index) $It fell by more than 1%, with a turnover of HK $3.71 million.

ETF performance of energy and precious metals

• The price of gold fell back below $1900
  

Us manufacturing activity rebounded in May to boost market risk appetite, while COMEX gold rallied and fell 0.3% to below $1900.$Gold ETF-SPDR (GLD.US) $It was down 0.25% yesterday and 0.24% before trading.

Stephen Innes, managing partner of SPI Asset Management, said, "We have seen some profit-taking because the rise in yields has made gold less attractive to some extent, mainly after higher-than-expected US manufacturing survey data. There is some unease, especially ahead of the non-farm payrolls data. In the long run, however, all inflation signals are still good for gold. "

• Us Oil rose more than 2% yesterday, up nearly 1% before trading.

OPEC+ predicts that the market demand for crude oil will grow rapidly in the future. The increase in Iranian crude oil production has little impact on market supply and demand. Us Oil jumped more than 2% yesterday and rose nearly 1% before trading.Us crude Oil Fund (USO.US) $It rose 2% yesterday.$double long Energy ETF-Direxion (ERX.US) $It rose nearly 8% yesterday.

Bart Melek, head of commodity strategy at (TD Securities) at TD Securities, said crude oil prices were expected to exceed $70 a barrel, and the Organization of Petroleum Exporting countries and its allies (OPEC+) insisted on cautious production as planned, but did not discuss plans to increase production after July. Given that demand is expected to grow rapidly, the market will face a sizeable deficit over the next six months under these assumptions.

Other ETF manifestations

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

The top ten ETFs that rose overnight in the US stock market were mainly long ETF of the energy industry and the FTSE China 50 index.

Goldman Sachs and Bank of America are bullish, bullish Brazilian stock market ETF hit a new high in more than a year

Analysts at Goldman Sachs (GoldmanSachsGroup) raised their growth forecast for Brazil, Latin America's largest economy, to 5.5% from 4.6%, while analysts at Bank of America (BankofAmerica) raised their forecast to 5.2% from 3.4%, Bloomberg reported.

$Brazil ETF-iShares MSCI (EWZ.US) $It rose nearly 4 per cent yesterday, the highest since February 2020.