Daily Investment Strategy
Hang Seng Index rose 95 points on Tuesday
The Hang Seng Index rose 95 points or 0.6% to 16,828 on Tuesday. HSTECH rose 33 points or 1.0% to 3,478 and HSCEI rose 26 points or 0.4% to 5,895. Daily market turnover was HK$82.9bn.
U.S. markets in wait-and-see mode
The Dow ended little changed on Tuesday as investors stayed on the sidelines ahead of key U.S. inflation data. The Dow Jones index fell 9.13 points, or 0.02%, to 38,883.67 points. During the session, the Dow Jones fell 320.71 points to an intraday low. The S&P 500 index rose 0.14% to close at 5,209.91 points; the Nasdaq index rose 0.32% to close at 16,306.64 points. Chipmaker Nvidia fell 2%. Several large technology stocks also fell, with Meta and Netflix down about 0.5% and 1.6%, respectively. Intel unveiled its Gaudi 3 chip, saying it offers better performance and lower power consumption. Alphabet shares rose 1.13% as the company unveiled new customized ARM chips and established cloud business partnerships with certain companies ahead of its Google Cloud Next keynote.
Investors hope to get more clues about interest rate cuts from CPI inflation data and FOMC minutes
The March consumer price index (CPI) is scheduled to be released on Wednesday. Investors will be watching the data closely for clues on when the Federal Reserve will begin cutting interest rates. CME Group's Fed watch tool shows that current federal funds futures trading data implies a 42% chance that interest rates will remain stable in June. In addition, investors are also looking forward to the release of FOMC minutes.
Hong Kong Stock Connect had a net inflow of HK2.73bn on Tuesday, of which CHINFMINING (1258) had the largest net inflow, reaching HK$0.42bn; followed by Xiaomi (1810). HSBC (5) recorded the largest net outflow at HK$0.01bn, followed by CNOOC (883).
Wen Kit Kenny is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to:https://apps.sfc.hk/publicregWeb/indi/AJF244/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.
