Goldman Sachs | US stocks showed mixed developments on Thursday, with American corporate earnings being a mixed bag. Technology stocks performed well, boosting the S&P 500 Index and the Nasdaq to close higher, while the Dow Jones fluctuated downward. The dollar experienced a Bottom Rebound, and the yield on US ten-year Bonds rose to 4.43%. Gold prices saw a Top Reversal, and oil prices continued to soften. Hong Kong stock pre-market securities performed steadily, and the market is expected to lack direction in early trading. The mainland stock market rose yesterday, with the Shanghai Composite Index opening low and closing up 1.3%. The trading volume in the Shanghai and Shenzhen markets also significantly increased. Hong Kong stocks performed strongly, with the index fluctuating in the early stages before steadily climbing and closing at an all-day high, with overall trading continuing to be active. The market is Bullish on the mainland's introduction of stimulus measures, favorable for the prospects of individual Sectors, with several stocks reaching new 52-week highs, reflecting a positive market atmosphere. The index is expected to challenge the resistance level of 21,000 points again, with support below at the 20,000 points level.

Industry news
Ping An Insurance (02318) has recently been continuously increasing its Shareholding in China Mainland Banking stocks. According to shareholding disclosures, Ping An increased its holdings of Industrial and Commercial Bank of China (01398) by 90.828 million H shares on January 27, at an average price of 5.3289 yuan, involving over 0.48 billion yuan, raising its holding from 16.92% to 17.03%. Information shows that Ping An's last increase in Industrial and Commercial Bank H shares was on January 2, purchasing over 0.15 billion shares at an average price of 4.8816 yuan, involving over 0.75 billion yuan. Ping An's subsidiaries, 'Ping An Life Insurance Company of China, Ltd.' and 'Ping An Asset Management,' also reported increases in Industrial and Commercial Bank H shares on January 9 and January 20, raising their holdings to 16.01% and 18.03%, respectively. The government is encouraging medium and long-term capital to enter the market, leading to a decline in mainland long-term bond rates to near historical lows, with Institutions facing asset scarcity and pursuing interest-bearing assets, making high dividend-paying stocks a primary target.

(The author is a licensed person of the Securities and Futures Commission; neither the author nor relevant persons hold the aforementioned shares.)

Byline: Gary Kwok, Director of Business Development at Harbor Family Office