The Hang Seng Technology Index fell nearly 3% in early trading, and many constituent stocks fell by more than 4%. As of press release, Ideal Automobile-W (02015) fell 6.53% to HK$107.3; Xiaopeng Motor-W (09868) fell 6.17% to HK$27.35; BYD Electronics (00285) fell 4.26% to HK$23.6; Sunyu Optics (02382) fell 3.73% to HK$36.1; and Alibaba-SW (09988) fell 2.5% to HK$66.2.
The Zhitong Finance App learned that the Hang Seng Technology Index fell nearly 3% in early trading, and many constituent stocks fell by more than 4%. As of press release, Ideal Automobile-W (02015) fell 6.53% to HK$107.3; Xiaopeng Motor-W (09868) fell 6.17% to HK$27.35; BYD Electronics (00285) fell 4.26% to HK$23.6; Sunyu Optics (02382) fell 3.73% to HK$36.1; and Alibaba-SW (09988) fell 2.5% to HK$66.2.
According to the news, on Thursday, the “top three” of the Federal Reserve and New York Federal Reserve Chairman John Williams once again expressed the view that “we are not in a hurry to cut interest rates right now”, triggering a rise in US bond yields and a decline in US stocks. Furthermore, Atlanta Federal Reserve President Bostic said that his opinion on the likely timing of the first interest rate cut is “the end of this year,” and stated “I am willing to be patient.” “Eagle King” Minneapolis Federal Reserve Chairman Kashkari said that he also wants to be “patient,” and that cutting interest rates for the first time may not be appropriate until next year.
Zheshang International previously pointed out that in terms of capital, the US CPI data once again exceeded market expectations, and further correction in interest rate cut expectations and soaring US bond yields put further pressure on the financial environment of the Hong Kong stock market. Cinda International pointed out that the last mile of the US fight against inflation is repeated, and the game between the market and the Federal Reserve over interest rate cuts and downsizing will increase market fluctuations.