The Hong Kong Stock Exchange is poised for a positive start after a slight decline in the previous session, reflecting a global trend of optimism driven by bargain hunting and improving interest rate expectations. The Hang Seng Index closed just above 24,230 points, with a rebound expected at the opening on Monday.
Global market forecasts for Asian markets are optimistic, following a mix of losses in European markets and gains in U.S. bourses. The Hang Seng Index saw a slight dip on Friday, primarily attributed to losses in financial, property, and technology sectors. Despite this, specific active stocks experienced varied movements.
Alibaba Group and Alibaba Health Info faced minor declines, while companies like ANTA Sports and China Mengniu Dairy saw positive growth. The market also witnessed fluctuations in shares of companies such as CITIC, CNOOC, and JD.com. Overall, the index closed lower at 24,231.30 points.
In the U.S., major indices like the Dow, NASDAQ, and S&P 500 showed a positive trend, bouncing back from midday dips to end on a high note. This shift in sentiment followed the release of a Labor Department report indicating lower-than-expected job growth in February, raising concerns about economic strength but also sparking optimism regarding interest rates.
Federal Reserve Chair Jerome Powell’s remarks emphasized a cautious approach to interest rate adjustments, given uncertainties surrounding economic policies. Crude oil prices, although volatile, remained higher, with West Texas Intermediate climbing to $67.04 a barrel.
Looking ahead, the Hong Kong Stock Exchange is set to open positively, aligned with the global market sentiment of optimism and renewed interest rate expectations. The overall market outlook remains influenced by factors such as economic data releases, policy decisions, and global market trends, shaping the trajectory of the stock exchange in the coming days.
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