Weekly

March 23 rd

Today's volatility range:

Gold price returns to consolidation pattern. The yield of U.S. treasury bonds has been checked, and the market has reached a consensus on the trend of the yield of treasury bonds for 10 years. The recent performance of gold price seems to be digesting the influence of the change of yield of treasury bonds.

In addition, there is no significant data in the market recently, so it is expected that the gold price will continue to consolidate in a narrow range. Today, the proposed amplitude is between 1729 and 1748.

HSBC Central Head Office was listed by the government for compulsory inspection last Tuesday because three employees were diagnosed with SARS-CoV-2 earlier. HSBC senior management took the initiative to close the whole bank for cleaning and disinfection.

The head office reopened yesterday after stopping its operation for 5 days. Although some employees returned to their work places, they may have gone back to carry the burden; It was reported that HSBC held a staff meeting by video.

Announcing a new round of layoffs, HSBC's layoffs follow the layoffs of 40 Hong Kong employees in September last year. Although the number of layoffs in this round is unknown, a person familiar with the matter said that,

There will be more retrenchments in Hong Kong than last time, and some vacancies arising from retrenchment will be taken over by mainland authorities. The slogan HSBC is the Bank of Hong Kong people has become a thing of the past in July last year.

But in the face of cruel facts, it still hurts.

In addition to layoffs from large organizations, Hong Kong's economy has been hit by an epidemic in the past year. Even the "kings" in prosperous areas such as Causeway Bay and Tsim Sha Tsui, which used to be hot in the past, have suffered a great decline in business due to the decrease in tourists.

As a result, the overall vacancy rate has risen. According to the information released by the Rating and Valuation Department yesterday, the rental value of a building in Russell Street, Causeway Bay has dropped by nearly 40% year on year! You know, the king who holds the purse strings is usually a powerful person.

Unless they are forced to do so, they would rather empty the premises than reduce the rent, so as not to affect the valuation. Nowadays, they do not know when to bury their tails in the face of the The 5th Wave epidemic. It may be the new normal for the owners to face the reality.

The trend of the local stock market was repeated yesterday. After the turnover was reduced to a new low of 134.2 billion yuan this year, it once again fell below the 29,000 mark and closed down by 105 points or 0.36%.

There is a dispute between the EU and the UK on the export of vaccines made in EU countries, and the authorities seek to break the deadlock with the UK on AstraZeneca vaccines. As a developed country, the supply of vaccines is so tight,

The epidemic situation may be as pointed out by the British Ministry of Health officials, and it will be necessary to wear masks for a long time in the next few years. The three major indexes of European stock markets developed individually, and the German DAX index rose by 0.29%; The French CAC index fell 0.49%,

The FTSE 100 Index rose 0.27%. Yesterday, the yield of US 10-year government bonds fell. Investors returned to high-tech shares and led the overall new york stock market to rise. The Dow Jones index rose by 0.32%;

The Standard & Poor's Index rose by 0.70%; Nasdaq index rose 1.23%. The price of gold was weak yesterday, which did not benefit from the falling yield of US Treasury bonds. The highest price of gold was $1,743 per ounce yesterday.

The lowest price was $1,727 per ounce, and it closed at $1,739 per ounce, down $6.

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