Daily Investment Strategy
Hang Seng Index rose 245 points on Friday
The Hang Seng Index closed at 18,258 points for the day, up 245 points or 1.4%. The Hang Seng Technology Index reported at 3,703 points, up 52 points or 1.4%. The HSCEI Index up 75 points, or 1.2%, to 6,381 points. The market turnover was HK$176.8billion.
FedEx warns its business will slow
U.S. stocks closed mixed on Friday. The Dow Jones index rose 38.17 points, or 0.09%, to 42063.36 points; the Nasdaq index fell 65.66 points, or 0.36%, to 17948.32 points; the S&P 500 index fell 11.09 points or 0.19% to 5702.55 points. Last week, all three major U.S. stock indexes recorded gains. The Dow rose 1.61% for the week, the S&P 500 rose 1.36%, and the Nasdaq rose 1.49%.
In terms of individual stocks, U.S. express delivery giant FedEx's stock price plunged 15.2% after the company failed to meet profit expectations and warned that its business would slow down. The market regards its performance as a bellwether for the U.S. economy, and its early warning has suppressed market sentiment.
Fed Governor Bowman has objections to cutting interest rates by 0.5%
After the interest rate meeting ended, some Fed members began to speak out. Among them, Federal Reserve Board Governor Michelle Bowman said that she had objections to the 0.5% interest rate cut at the interest rate meeting earlier because consumer spending was still growing steadily. Inflation above the Fed's 2% target remains a concern, marking the first time since 2005 that a Fed official has dissented from an interest rate decision and said she would prefer a 0.25% rate cut.
Hong Kong Stock Connect saw a net inflow of HK$3.4 billion on Friday, of which Alibaba (9988) had the largest inflow, reaching HK$3.81 billion; followed by Hong Kong Exchanges and Clearing (388). Meituan (3690) recorded the largest net outflow of HK$1.18 billion; followed by Tencent (700).
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