The expectation of interest rate cuts has been rekindled, and U.S. stocks have soared! Hong Kong stocks have risen for nine consecutive years, and A-shares have opened stable?

Securities Times E Company

2024-05-04 08:49Published on the official account of "E Company" under Guangdong Securities Times

During the May Day period, A-shares were closed, but the peripheral stock markets were still trading. Last night, global stock markets continued to soar after the release of key U.S. data and the rekindling of expectations of a Fed rate cut.

U.S. stocks collectively rose

Eastern time on Friday (3rd), the three major U.S. stock indexes collectively rose. At the close, the Dow rose 1.18%, the Nasdaq rose 1.99%, and the S&P 500 rose 1.26%.

Big tech stocks rose across the board, banks mostly rose, and chip stocks performed strongly. Popular Chinese concept stocks generally rose, with the Nasdaq China Golden Dragon Index rising 1.73%.

All three major European stock indexes closed higher across the board.

Germany's DAX rose 0.54% to 17,993.69, France's CAC 40 rose 0.54% to 7,957.57 and Britain's FTSE 100 rose 0.51% to 8,213.49.

International oil prices continued to fall.

By the end of the day, light crude oil futures for June delivery on the New York Mercantile Exchange closed at $78.11 a barrel, down 1.06%, down nearly 7% for the week, and London Brent crude futures for July delivery closed at $82.96 a barrel, down 0.85%, down nearly 6% for the week.

International precious metals futures closed mixed.

COMEX gold futures closed up 0.02% at $2310.1 an ounce, down 1.58% for the week, and COMEX silver futures closed down 0.16% at $26.785 an ounce, down 1.71% for the week.

Expectations of interest rate cuts have rekindled

According to foreign media reports, the data released on the same day showed that the seasonally adjusted non-farm payrolls in the United States increased by 175,000 in April, with an expected increase of 243,000, the unemployment rate rose from 3.8% to 3.9%, and the wage data was also lower than expected.

Analysts believe this eases investors' fears that the economy may overheat or re-accelerate, and rekindles expectations of interest rate cuts.

Currently, swap markets are pricing in two 25bp rate cuts by the Fed this year, up from one, and FedWatch is showing a close 50% chance of a 25bp cut in September.

Hong Kong stocks rose for nine consecutive days

Hong Kong stocks got off to a good start in May, with the Hang Seng Index closing up 1.48% at 18,475.92 points, recording nine consecutive gains, up 4.67% for the week.

Tech stocks led the gains.

哔哩哔哩-W涨近7%,京东集团-SW、快手-W、微博-SW涨超5%,百度集团-SW、阿里巴巴-SW涨超4%。

The new forces of car manufacturing rose, with Xpeng Motors-W rising nearly 5% and Li Auto-W rising more than 3%. Gogox surged by more than 90%, with a turnover of about HK$150 million. The trading volume of the market was HK$116.2 billion throughout the day.

Asia-Pacific stock markets were mixed

South Korea's Composite Index fell 0.26% to 2,676.63 points. Among the constituent stocks, Kia Motors fell more than 4%, Hyundai Motor fell more than 3%, and Pohang Steeler rose more than 1%.

Australia's S&P 200 rose 0.55% to 7,629.00. India's SENSEX30 index fell 0.98% to 73,878.15 points, up 0.2% for the week.

The FTSE Singapore Straits Index fell 0.12% to 3,292.93 points, up 0.39% for the week. The FTSE Malaysia Composite Index rose 0.59% to 1,589.59 points, up 0.92% for the week.

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