The market fluctuated and fell throughout the day, with the GEM index leading the decline. On the disk, e-commerce stocks bucked the trend and strengthened, military stocks rose intraday, and cross-border payment concept stocks once soared. On the downside, brokerage stocks continued to weaken. On the whole, stocks fell more and rose less, and more than 4,400 stocks in the whole market fell. In terms of ETF gains, many U.S. stock-related ETFs rose more than 2%.
U.S. stocks closed higher on Monday, with the Dow and S&P 500 hitting new all-time highs, with the Dow closing above the 43,000 mark for the first time. Some market analysts believe that traders have ruled out a 50 basis point rate cut by the Fed in November, after data showed that United States consumer prices in September were slightly higher than expected, and recent economic data also showed a strong labor market. In terms of decline, Hong Kong stocks-related ETFs fell first, with China Concept Internet ETF and China Concept Internet ETF falling by more than 5%.
Some brokerages said that in the long run, the certainty of the fundamentals of Hong Kong equity heavy stocks is still strong, the Fed has entered the interest rate cut cycle has become a foregone conclusion, and the long-term logic of Hong Kong stocks has not been substantially hit, but time and space are needed to digest the short-term overly high sentiment. Investment is risky, independent judgment is very important, this article is for reference only, does not constitute a basis for trading, enter the market at your own risk.
Cover image source: Visual China-VCG41N1809103617 edited by Ye Feng