Main views of overseas markets in a week: as fudge claimed that the risk of Omicron virus was relatively low this week, the United States may consider relaxing travel restrictions on African countries, prompting the significant decline of American anti epidemic concept stocks. Moderna, biontech and Pfizer fell 16.19%, 25.11% and 2.75% respectively this week. In addition, since the second quarter of this year, Pfizer pharmaceutical, United Health Group, Thermo Fisher technology and shuotang and other large American pharmaceutical stocks have surged in the short term. In the future, we should pay attention to the periodic correction pressure of large US pharmaceutical stocks with rapid short-term upward movement. In addition, the large-scale technology equity of the United States, which had a lot of callback in the past two weeks, rebounded sharply in the short term, such as Broadcom, arista, Oracle, Qualcomm, etc; U.S. technology stocks that have rebounded sharply in the short term may have the possibility of callback for some time in the future. At the present stage, the valuation of US technology stocks is still relatively high, and is at the highest level in the past twenty years except for the Internet bubble. Considering that the cumulative increase of U.S. technology stocks from the end of March last year to October this year is large, and the current valuation is at the second highest level in recent 20 years, there may be further correction of large U.S. technology stocks in the future. From the Hong Kong stock market, due to the large decline of Hong Kong stocks last week, the Hong Kong stock market rebounded this week. At this stage, the rebound of Hong Kong stocks belongs to oversold rebound. At present, Hong Kong stocks are still at the bottom stage, and there is little possibility of a large new round of sharp reversal of the market on the right; After a period of bottoming in the future, Hong Kong stocks may have a new round of phased rise. At this stage, the medium and long-term risks of essential consumption and pharmaceutical industry in Hong Kong stocks are gradually decreasing, and the cycle industry risk is gradually increasing. The hard core technology manufacturing fields such as defense and military industry, electrical equipment and new energy in Hong Kong stocks may have some toughness.
US stock market performance in one week: the three major US stock indexes rebounded this week. The S & P 500 and Dow Jones industrial index rose 3.82% and 4.02% respectively this week, and the NASDAQ index rose 3.61%.
Performance of Hong Kong stock market in one week: Hong Kong stock market rebounded this week. Hang Seng Index, Hang Seng China enterprise index and Hang Seng Hong Kong Chinese enterprise index rose 0.96%, 1.45% and 1.81% respectively. In addition, the Hang Seng technology index also rose this week, up 1.85%.
Important overseas economic data: in November this year, the year-on-year growth rate of us CPI was 6.8%, a new high in recent 40 years.
Risk tip: the Fed's monetary policy exceeded expectations; Economic growth is less than expected; The intensification of global geopolitical risks; Overseas epidemic control is less than expected; Global black swan event. one hundred and ninety-nine thousand and fifty-four
