Although it rose on a weekly basis, the market faces strong resistance to upward movements. In the product structure, revenue for 10-30 billion yuan products were 401/1288/60 million yuan respectively, showing a +28.10% year-on-year increase with significant growth. Meanwhile, the emerging markets rose this week with the Grose Market Index recording +0.66% and Grose Market 250 Index recording +0.51%, similar to the movement of the Prime Market and outperforming the Nikkei Average of +0.51%. With the decline of gold rates in Japan and the US, investment funds turned to core stocks in the Grose market, leading to a rebound in both indices, but investor attention was concentrated on the recently listed Astro Scale HD<186A>, causing the indices to falter. Both indices were capped at the 25-day moving average line and although the weekly basis was up, it remained in heavy resistance to upward movement.
This week, the emerging markets rose. During the same period, the growth rate of the Grose Market Index was +0.66%, and the growth rate of the Grose Market 250 Index was +0.51%, while the Nikkei Average was +0.51%. With the decline of gold rates in Japan and the US, investment funds flowed into core stocks in the Grose market, leading to a rebound in both indices. Although there were instances where the Astro Scale HD <186A>, which was listed on the 5th, caused investor attention to concentrate on the indices, it soon came to a slowdown. Both indices were capped at the 25-day moving average line and although the weekly basis was up, it remained in heavy resistance to upward movement.
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The Grose market may continue to experience directionless market trends next week.
Next week, attention will be focused on whether the emerging markets can dispel the subdued mood that followed the listing of Astro Scale HD. The core stocks in the Grose Market showed mixed strength and weakness, lacking directionality. The autonomous rebound of the Grose Market Index and Grose Market 250 Index observed since the end of May was rejected by the 25-day moving average line. Both indices have not cleared this level since their last attempt on March 22, a period of more than two months. With the depressed trend of being capped by the 25-day moving average line continuing, both the Prime Market and the Grose Market are likely to adopt a wait-and-see attitude, leading to quiet market trends in both markets as the US Federal Reserve Open Market Committee (FOMC) will hold its meeting next week, as well as the Bank of Japan holding a monetary policy meeting. The Grose market is expected to experience a directionless market trend next week.
Additionally, D&M Company<189A>, which engages in business support for medical institutions, will be listed on the Grose market on the 11th, and Chordia Therapeutics<190A>, which is engaged in the development of cancer treatment drugs that target RNA control stress, will be listed on the Grose market on the 14th. Both are highly anticipated among investors, so attention will be focused on their opening prices and post-opening price movement. In particular, depending on the subsequent movements of Chordia Therapeutics, there may be a potential for biotech-related stocks such as Qualipps<4894>, Kei Pharma<4896>, and Noile-Immune Biotech<4893> to become more active.