HSI Climbs 175 Pts; Techs Boom
The market once again speculated a rate cut by the Fed, as the US PCE inflation last month was in line, shoring up the DJIA by 654 pts or 1.6% last Friday (26th). The Hong Kong stock market opened higher this morning, echoing the external market. $Hang Seng Index(800000.HK$ opened 175 pts or 1% higher at 17,196; $Hang Seng China Enterprises Index(800100.HK$ opened 64 pts or 1.1% higher at 6,074; and $Hang Seng TECH Index(800700.HK$ opened 48 pts or 1.4% higher at 3,491.
For techs, $BABA-SW(09988.HK$ and $KUAISHOU-W(01024.HK$ soared 2.3%. $TENCENT(00700.HK$ , $MEITUAN-W(03690.HK$ , $XIAOMI-W(01810.HK$ , $JD-SW(09618.HK$ , $BIDU-SW(09888.HK$ and $BILIBILI-W(09626.HK$ added 1.5%-2%.
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WinningTrader : Will stocks fall again if no interest rate cut in Sep?