Express News | Telecommunication sector in Hong Kong fell, with China United Network Communications dropping by 6.31%, China Mobile dropping by 2.61%, and China Telecom falling more than 4%.
Investment banks are discussing! The initial application for unemployment benefits in the USA reaches a record high, and the FED may become more certain to cut interest rates.
①In the week ending July 13th, the number of initial jobless claims in the USA reached the highest level since August 2023. ②Texas had the largest increase in first-time unemployment claims last week due to the impact of Hurricane "Peridot". ③Analysts believe that the data clearly points to a cooling labor market, providing further reasons for the Federal Reserve to start cutting interest rates soon.
Hong Kong's technology stocks rose slightly, with the science and technology index up 0.5%; "The Big Three" oil companies, telecom, and coal industry concepts performed poorly. China Telecom and PetroChina fell by about 6%.
Hong Kong's three major stock indexes rose in the afternoon and then fell back, with the Hang Seng Tech Index soaring 1.5% at one point and ending up 0.5%. The Hang Seng Index rose 0.06%, while the China Enterprises Index continued to fall by 0.3%. The market has stopped its two-day decline trend overall.
Powell's strong rhetoric has reversed, and interest rate cuts trade resumes! Looking back at the best-performing asset classes during the past three rounds of interest rate cuts.
Looking at the most recent interest rate cut cycle, Bitcoin performed the best, with an increase of nearly three times throughout the interest rate cut cycle; the US stock market also performed well, with the NASDAQ rising by as much as 64%; among commodities, copper and crude oil performed the best.
Futu Morning Briefing | Powell: The Fed is carefully evaluating the timing of interest rate cuts; Tesla successfully achieved a 10-day consecutive increase.
Fed's "megaphone": Powell's important shift suggests rate cuts are imminent; A failed billion-dollar agreement? Oracle's stock dropped by 3%, while Musk's AI negotiation was reportedly terminated. Second-quarter shipments surged 21%! Apple leads the global PC market's recovery.
Foreign institutions are bullish on Chinese assets, and these symbols are worth paying attention to.
Strategists believe that there are clear signs of economic recovery in China, which is bullish for the company's performance and further supports its valuation.