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S&P rises over 2%, the best in nearly two years, with chip stocks up about 7%, Nasdaq and Chinese stocks up 2.8%, and US Treasury yields and the yen falling for three consecutive days.
The latest employment data alleviates concerns over the US economy, and US stocks rose more than 1.7%. Nvidia's stock rose more than 6%, and Tesla, Alibaba, PDD Holdings, and Tencent ADR rose more than 3%. Bullish on weight loss drug reports, Eli Lilly and Co's stock rose more than 13%, and Novo-Nordisk A/S's US stock rose nearly 8%. The 10-year US Treasury yield rose above 4%, and short-term bond yields rose by 10 basis points. Oil prices rose for the third consecutive day, gold halted its five-day decline, and digital currency had a big increase.
Zhitoon Hong Kong Stocks Analysis | Calm on the Surface, but Strong Undercurrents Are Surging. The Market Explores the Potential of Consumerism.
The Hong Kong stock market continues to perform steadily, up 0.08%.
Hong Kong stocks closed on August 8, with the Hang Seng Index slightly up by 0.08%. Mainland real estate showed active performance, while shipping and autos remained under pressure for the whole day.
The Hong Kong stock market opened lower but rose afterwards, with the Hang Seng Index and the Heng Seng Science and Technology Index rising by 1% at one point; the index narrowed in the afternoon, and the Heng Seng Science and Technology Index turned downward again.
HKEX Movement | New Oriental-S (09901) fell by more than 7%. Morgan Stanley is cautious about its execution ability in the share buyback plan. Short-term profit margin affected by Eastbuy.
New Oriental-S (09901) fell more than 7%. As of press time, it fell 6.18%, to HKD 52.35, with a turnover of HKD 0.197 billion.
Education sector falls across the board. New Oriental (09901) dropped by 5.82%. The market may have misinterpreted the policy on extracurricular training in education.
Jinwu Finance | Education sector is generally falling, New Oriental (09901) fell by 5.82%, Beststudy Edu (03978) fell by 4.83%, China Kepei (01890) fell by 3.97%, and Fenbi (02469) fell by 3.64%. On the news side, the State Council issued the "Opinions on Promoting the High-Quality Development of Service Consumption," which mentioned education and training consumption, and was interpreted by the market as bullish news. However, some analysts believe that this document does not explicitly lift the ban on K9 extracurricular training, but only refers to vocational training and extracurricular non-subject training. Citic Sec research reports state that since the promulgation of the new "Vocational Education Law,"
Hong Kong stock anomaly | Education stocks fell back, Beststudy Edu (03978) fell more than 6%. "K9 subject training lift" is a market misunderstanding.
Education stocks are experiencing a collective pullback. As of press time, Beststudy Edu (03978) has fallen 6.55%, to HKD 2.71, while New Oriental-S (09901) has fallen 4.75%, to HKD 53.15.
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