U.s.
U.S. stocks were mixed on Friday, with the Dow up 0.32%, the Nasdaq down 0.03%, and the S&P 500 up 0.16%.
The preliminary value of the University of Michigan consumer sentiment index in the United States in May was 67.4, the lowest since November last year, with an expectation of 76 and a final value of 77.2 in April.
Fed's Bostic said that despite the uncertainty of timing, it still believes the Fed will make a rate cut this year.
The Fed's Kashkari said that the threshold for another rate hike is high, but this possibility cannot be ruled out. If inflation data allows, the Fed will keep interest rates steady.
A shares
Today, the big A turned into a weak adjustment pattern, the Shanghai Composite Index struggled intraday, once turned red slightly for a short time, and the index ran weakly underwater throughout the day.
From today, the Hong Kong Stock Exchange has adjusted the information disclosure mechanism of Shanghai-Shenzhen-Hong Kong Stock Connect, and it is impossible to see the trading dynamics of northbound funds, the market seems to have lost a certain reference, and the wait-and-see mood is relatively strong.
As of the close, the Shanghai Composite Index closed at 3148.02 points, down 0.211%; The Shenzhen Component Index closed at 9673.32 points, down 0.60%; The GEM index closed at 1,860.37 points, down 0.95%.
The ratio of individual stocks in the two cities was 0.27:1, and nearly seventy percent of the stocks fell, further amplifying the effect of losing money.
The total turnover of the two cities was 909.7 billion yuan, a decrease of 2.8 billion yuan from the previous trading day, almost flat, and the market wait-and-see sentiment was heavier.
Hong Kong stocks
Hong Kong stocks opened low for a short time in early trading today, then rose rapidly, turned from falling to rising, and then have been trading sideways at a high level, and finally the major indices closed up across the board.
Among them, the Hang Seng Index rose 0.80%, regaining its position above 19,000 points after 9 months, and Hang Seng Technology rose 1.42% to return to above 4,000 points.
Southbound funds increased their positions by 8.807 billion yuan throughout the day, and they are still buying and buying non-stop.
Northbound funding
Adjustment to the Stock Connect Trading Information Disclosure Mechanism: Starting from 13 May (today), HKEX will adjust the real-time disclosure arrangement for trading information, and will no longer disclose the real-time buy, sell and total transaction amounts of Stock Connect. When the quota balance of SSE Stock Connect is greater than or equal to 30% on the day, "sufficient quota" will be displayed; When it is less than 30%, the quota balance will be announced in real time.
Sector performance
Today, the shipping and high-speed rail sectors are strong and among the top gainers; Household appliances, electricity, gas, water, and agriculture also performed well, and the market as a whole was dominated by defensive style.
Internet, lithium battery, hotels, liquor, real estate, cultural tourism, software, semiconductors and other sectors performed poorly.
Reviews
Overall, today's market weakness is mainly related to the news over the weekend:
First, the social finance data is negative, and the specific negative values include M1, social finance increment, short-term, medium- and long-term loans for residents, etc.;
Second, on Tuesday, Biden will announce that China's electric vehicle tariff rate will be raised from 25% to 100%. In addition, it will announce significant tax increases on Chinese minerals, solar energy, and batteries.
The market may usher in a shock above 3100 points, or the previous view, shock or pullback, as long as it is a small range of fluctuations are acceptable or even good, as long as there is no short-term volume drop in the situation, the upward trend will continue.
Remember, once a trend is formed, it is not so easy to reverse.
Although we can't observe the real-time changes of northbound funds now, and it seems that we have lost an anchor, don't forget that we still have Hong Kong stocks, which to a large extent represent the attitude of foreign investors towards Chinese assets, and also have a great reference role, so we must pay attention to it.
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