Weekly

On April 5th

Today's range

The market closed on US labor data, the number of job openings in the US fell below 10 million for the first time in 2021, adding to market expectations of a deep recession in the US, gold broke through the $2000 barrier, tonight's small non-farm data will add fuel to the fire or cold water, it is not clear, but gold rally too fast, can see high short. Today's advice ranges from $2000 to $2028.

Tomb-sweeping day has not arrived, Hong Kong stocks yesterday first kneel down, end five consecutive rise. Ratings agency Fitch said recent frequent debt restructurings by mainland property companies, mostly to roll over their debt rather than more sustainable restructurings, ultimately failed to improve business conditions and questioning their cash flow situation remained a threat to their survival. Hong Kong-listed residential stocks fell between 1 and 8 per cent, with the Hang Seng Index opening 44 points lower and falling more and more to close at 20, 274, down 134 points or 0.66 per cent.

Oil prices fell slightly yesterday as investors turned their attention to the impact of an early surge in crude oil prices caused by Opec's alliance with Russia to cut production. Separately, an ECB survey showed that eurozone consumers cut their inflation expectations in February and took a more optimistic view of growth and unemployment; The three major European markets again diverged, with Germany's DAX up 0.14%; France's CAC index in Paris was down slightly by 0.01%, while Britain's FTSE 100 was down 0.48%.

Bank shares took a hit after jpmorgan Chase Chief Executive Jamie Dimon warned in a letter to shareholders that the US banking crisis was continuing and its effects would last for years. The S&P bank index fell more than 2 percent yesterday, underperforming the broader market, while the three major indexes on Wall Street developed separately, with the Dow down 0.59 percent, the S&P 500 down 0.58 percent and the Nasdaq Composite down 0.52 percent.

Job openings in the US came out last night, with the latest data showing a lower-than-expected drop to 9.93 million from 10.5 million in the previous month, and the number falling below 10 million for the first time since 2021, amid expectations that the economy is cooling, heightening fears that the Fed's campaign to rein in decades of high inflation could lead to a deep recession; Gold quickly broke through the $2,000 mark after the data came out and traded as high as $2,025. Gold went as low as $1,977 before closing at $2,025.5, up $36.1.
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