3.30 Review: World turmoil, market panic, most software stocks weakened
First, the story
The White House confirmed that Donald Trump will visit Beijing on May 14-15 to meet with General Secretary Xi Jinping. Trump extended the ceasefire until April 6th, but oil prices briefly fell below $100 after the news was released before quickly rebounding above $112. During the ceasefire, oil prices rose instead of falling. This afternoon, Iranian officials announced plans to implement an access and fee system for ships passing through the Strait of Hormuz. Combined with the escalating military pressure from the US and Israel on Iran, the world's major energy transport artery faces unprecedented blockade risks, with violent oil price fluctuations intensifying market fears of stagflation.
Now, look at the broader market
In the US stock market, the Nasdaq Composite Index fell 2.15%, the Dow Jones Industrial Average fell 1.73%, and the S&P 500 Index fell 1.67%—a complete rout for US indices. In the Hong Kong market, the Hang Seng Tech Index fell 1.84%, and the Hang Seng Index fell 0.81%. In the A-share market, the Shanghai Composite Index rose 0.24%, while the Shenzhen Component Index fell 0.25%.
Now let's look at individual stocks
NVIDIA (NVDA): Closed down 2.17%. It has been range-bound for a short while and today broke through the previous support level of 166. It's unclear if it will bottom out and rebound. Support levels to watch: 166/171. Resistance levels: 186/193.
Apple (AAPL): Closed down 1.62%. Range-bound after forming a double top. Let's see if the later downtrend can reverse into an uptrend. Support levels: 243/254. Resistance levels: 276/288.
Meta (META): Closed down 3.99%. A loss in a child safety lawsuit coupled with Section 230 being bypassed has sent the stock price on a downward path. Let's see if there's a reversal later. Support levels: 481/521. Resistance levels: 675/740.
Tesla (TSLA): Closed down 2.76%. It's been on a downward path since the start of the year. After a small rise a few days ago, it fell back again. Support levels: 286/357. Resistance levels: 460/493.
Microsoft (MSFT): Closed down 2.51%. It's also investing profits into AI computing centers. Confidence in software stocks is weakening. Support levels: 340/363. Resistance levels: 488/536.
Zhipu AI (02513.HK): Closed up 9.81%. Recently, it has been experiencing significant volatility within a range. The release of the GLM-5.1 model played a positive card. Support levels: 186/498. Resistance level: 782.
In summary
The international situation is turbulent and unstable, and the stock market is affected by it. Market confidence in software stocks is weakening, and there is a wait-and-see attitude towards the return on investment in AI. Both US and Hong Kong stock indices are pessimistic. In the A-share market, only the Shanghai Composite saw a slight increase. Affected by the international situation, market sentiment is panicky. $Meta Platforms(META.US) $NVIDIA(NVDA.US) $KNOWLEDGE ATLAS(02513.HK)
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