$Lion-OCBC Sec HSTECH S$ (HST.SG)$ Reversed after reaching 0...

Reversed after reaching 0.693. May fall to supports around 0.633 and 0.624.

China and Hong Kong stocks closed down on Thu, tracking regional markets lower as investors digested the implications of policymakers in major economies preferring to take a patient approach to monetary easing amid sticky inflation.

Geopolitical tensions also kept investors nervous as China's military started two days of "punishment" drills held in five areas around Taiwan just days after Taiwan President Lai Ching-te took office. ** More hawkish-than-expected minutes of the Federal Reserve's latest policy meeting, a hot UK inflation print and a sobering assessment of New Zealand's inflation problems from the country's central bank have caused investors to pare their bets of the pace and scale of global rate cuts expected this year.

China's central bank has guided some commercial banks to accelerate the pace of lending in May, four sources with knowledge of the matter said, after broad credit growth in Apr hit a record low.