Markets are adjusting in anticipation of clearer signals

The stock markets on Wednesday are dominated by moderately negative sentiment. Exchanges in the East doubt the sufficiency of state support for the Chinese economy, while further rate increases are expected in Europe. In the US today, attention is focused on the speech of Fed Chairman Jerome Powell before Congress, where they are worried that «hawkish» rhetoric will be voiced again.

On Tuesday, US stock indexes closed in negative territory after a 3-week growth and a long weekend. As part of the S&P 500 index, 405 stocks showed a drop. The most significant losses were noted in the shares of SolarEdge Technologies (-7.71%), Enphase (-5.40%) and Warner Bros Discovery (-4.77%). 

Tesla shares rose 5.34% after an agreement by another electric car manufacturer, Rivian Automotive, to adopt the Tesla charging standard. Generac securities (+7.91%), PayPal Holdings (+3.70%) and NVIDIA (+2.61%) also showed growth. 

At the same time, Intel shares fell by 3.77% after the announcement of the company's plans to build semiconductor manufacturing plants in Israel and Germany. Apple shares rose slightly by 0.05% on Tuesday.

In the Southeast Asian region, stock trading ends with a predominance of negative dynamics. On Wednesday, Japan's Nikkei 225 index added 0.56%, South Korea's KOSPI fell 0.86%, Hong Kong's Hang Seng fell 1.98%, and the composite Chinese stock index CSI 300 dropped 1.53%. 

In Hong Kong, only 8 stocks from the list of the Hang Seng index showed growth, among which the most significant was the growth of PetroChina (+1.11%), BYD (+0.91%) and China Shenhua Energy (+0.89%). Shares of sportswear manufacturers Anta Sports (-5.46%) and Li Ning (-5.38%) fell in price due to concerns about weak consumer spending.

The technology sector also shows a significant decline, among which the leaders of the fall are Xinyi Solar (-5.72%) and Sunny Optical Technology (-5.48%). Alibaba shares lost 4.13% on Wednesday after the announcement of the change of the head – Daniel Zhang, who managed the company for eight years, left the posts of CEO and chairman of the board of directors.

European indices in the first half of the trading day mainly show a moderate decline. The STOXX Europe 600 composite continental index is down less than 0.2%. The shares of Swedish companies Viaplay (-13.5%) and Beijer Ref (-8.5%), Finnish Kojamo (-4.1%) and Belgian Aedifica (-3.9%) are the most significant declines. Among the growing stocks are the shares of the British company Cineworld (+6.7%), the Swedish Husqvarna (+6.0%) and the French Orpea (+4.2%).