Reported 8 months ago
Provided by Fubon Futures analyst Cao Fukai, Huang Yanhong summarized on June 24, 2024, at 4:10 PM, with Taiwan stocks continuing their upward trend by 748 points last week. The technical aspect displayed a large deviation. After the short-term rise of Taiwan stocks, margin financing hit a new high of 315.2 billion yuan. Attention should be paid to possible high-level adjustment selling pressure in shipping futures in the short term. Key international financial events this week include the first presidential debate for the 2024 election in the United States and the release of the latest PCE report by the U.S. Department of Commerce on Friday, where the market forecasts a slowdown in the core PCE annual growth rate from 2.8% in April to 2.6%. The current slowdown in the U.S. core PCE indicates a possible first round of rate cuts occurring in September. Observing the news, as the peak season approaches, various shipping companies have announced price increases. However, with the ceasefire agreement in Ha, leading to a decline in the main contract of the Shanghai-Europe Line Transportation, affecting the stock performance of the top three container shipping companies. Despite the stabilization of the Shanghai-Europe Line Transport contract, shipping index futures are still consolidating at a high level, leaning towards weakness in the short term. Technically, the shipping index spot price has been oscillating at a high level since the 11th, still facing resistance above if it fails to break the previous high, and therefore, technical operations should be carried out in line with the trend. Taiwan Futures Exchange's shipping futures are designed as small-sized contracts, with an original margin of 15,000 yuan per lot, facilitating traders to use futures more flexibly as a hedging or trading auxiliary tool.
Source: YAHOO