Market Insight

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

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