EUR/USD 1.14136
-0.001%
Gold 4031.82
0.608%
Oil 82.108
-0.185%
USD/JPY 162.492
0.005%
GBP/USD 1.34350
0.036%
GBP/JPY 218.313
0.044%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 21 - According to Iranian sources on the 21st local time, in response to the US attack on Iran, Iranian ground forces used surface-to-surface missiles to strike the US HIMARS high-mobility rocket system at the Arifjan base in Kuwait.July 21 – Capital Economics strategist Thomas Mathews stated in a report that gold remains valuable as a hedge against a stock market crash. Recently, golds performance has arguably been more of a "risk" asset than a "safe" one, given its recent price volatility, which has mirrored that of the benchmark S&P 500. Golds poor performance amidst Middle East conflicts appears to have weakened its supposed inflation-hedging role. However, the link between gold and real bond yields appears to remain intact, and any decline in real yields is expected to boost gold. If the US economy is hit and prompts the Federal Reserve to significantly cut policy rates, the recent positive correlation between gold and the stock market will not be sustained.On July 21, it was reported that the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.4500%, and the lowest was 0.7710%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0520%, and the lowest was 0.9220%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0670%, and the lowest was 0.9860%.The ChiNext index rose by more than 1%, with memory chips, semiconductors, and gaming sectors leading the gains.Newly listed stock N Tainuo-U opened 246.82% higher; the prospectus shows that the company is dedicated to blood product replacement therapy.

Hang Seng Index, ASX200, Nikkei 225: US CPI Report Weighs on Sentiment

Steven Zhao

Feb 15, 2023 16:19

微信截图_20230215140941.png

The Market Overview

The Hang Seng Index and the larger Asian markets had a gloomy morning session. This morning's market risk sentiment was affected by the US CPI Report for January. Investors would have hoped for softer-than-expected results despite the fact that US inflation eased in order to lessen the possibility that the Fed would raise interest rates over 5%.


The annual inflation rate in the US decreased in January from 6.5% to 6.4% compared to an anticipated 6.2%, confirming the hawkish view for interest rates.


The NASDAQ Composite Index increased on Monday while the Dow decreased by 0.46%.


Geopolitical tensions between the US and China added to the negative Hang Seng session despite the absence of any regional economic signs to divert investors.

Advertisement

ASX 200

The ASX 200 was down this morning by 1.22%. Australian economic data were not available to influence market sentiment. RBA remarks, however, once again hurt the ASX 200.


RBA Governor Philip Lowe addressed members of parliament after last week's aggressive RBA Rate and Monetary Policy Statements, outlining the catastrophic repercussions of failing to control inflation.


Reuters quotes Lowe as saying, "The current inflation rate of 7.8% is much too high. It must be taken down. We are most concerned about it.


The ASX 200 fell as the US CPI report came in hotter than anticipated and the RBA said that it will fight inflation.


Bank stock prices saw a down day this morning. CBA and WBC both had declines of 5.78% and 4.48%, respectively. NAB and ANZ Group both had declines of 3.95% and 3.61%, respectively.


Small assistance came from mining stocks. Fortescue Metals Group (FMG) fell by 0.47%, while Rio Tinto (RIO) and BHP Group Ltd (BHP) both had increases of 1.05% and 0.11%, respectively. Newcrest Mining (NCM) also had a decline, dropping by 1.11%.


Woodside Energy Group (WDS) and Santos Ltd (STO), which were down 2.32% and 0.70%, respectively, were affected by a decline in crude oil prices. WTI fell 0.52% this morning to $78.65.

HONG SEN GOLD INDEX

Market response to the US CPI Report and the deterioration of US-China ties caused the Hang Seng to fall 1.28% this morning.


Tencent Holdings Ltd. (HK:0700) down 1.48%, while Alibaba Group Holding Ltd. (HK:9988) fell 2.15%.


Industrial and Commercial Bank of China (HK: 9988), China Construction Bank (HK: 0939), and HSBC Holdings PLC all saw declines in their respective bank stock prices.

Suggestion