Market Roundup

Market Roundup

US inflation data has further heated up, and the market currently generally expects no interest rate cut in June. The Hang Seng Index opened 283 points lower this morning, at 16,856 points. The index's full-day decline narrowed to 44 points, or 0.26%, to 17,095 points; the HSCEI index It fell 13 points, or 0.2%, to 6,004 points; the Hang Seng Technology Index fell 14 points, or 0.4%, to 3,538 points. The total daily turnover of the market was HK$98.8 billion. Market expectations for interest rate cuts will delay, and yield sensitive stocks under pressure. Link REIT (823) fell 3.1% to HK$33.35. The stock price of Zhongsheng Holdings (881) failed to close above the resistance level of HK$15, falling 6.2% to HK$14.4.

Source: KGI Asia Investment Strategy

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.