Weekly

October 7(th)

Today's volatility range:

Yesterday, the U.S. released small non-agricultural data, which rose for three consecutive months and beat expectations. The yield of U.S. 10-year treasury bonds dropped, which stimulated the gold price to rebound from a low level.

However, the rise of the U.S. dollar suppressed the upward trend of gold price. In addition, the market is still waiting for the official non-agricultural employment data released on Friday, so the gold price only rose slightly to close yesterday. Today, it is still long and short. Today, the suggested volatility is between 1750-1771 US dollars.

Chief Executive Carrie Lam Cheng Yuet-ngor announced the last Policy Address in his term of office yesterday, proposing to set up a "Northern Metropolitan Area" in Yuen Long and North District, covering an area of about 300 square kilometers, which will provide 926,000 residential units and accommodate 2.5 million people in the future. She suggested loosening ancestral halls in the New Territories, considering amending the New Territories Ordinance to relax restrictions on the sale of ancestral halls, and increasing opportunities for land supply.

The Chief Executive also pointed out that in order to tie in with the connection between the "Northern Metropolitan Area" and the Mainland, the Hong Kong-Shenzhen Western Railway, which connects Hongshuiqiao to Qianhai, Shenzhen, will be connected in terms of transportation facilities.

The policy address also mentioned the reorganization of the Housing Transport Bureau in order to speed up the land approval process.

On the financial side, Lin Zheng didn't write much, but only mentioned measures such as further expanding the two-way circulation channel of cross-border RMB funds, and allowing the stocks traded in the southbound direction of Hong Kong Stock Connect to be denominated in RMB.

The focus seems to be trying to integrate Hong Kong into the Mainland, which is more than pushing up Hong Kong's international financial status.

The new Policy Address of the Chief Executive will benefit infrastructure stocks and some Hong Kong real estate stocks, and HSBC, which is determined to develop the Mainland, will also benefit.

However, the performance of Hong Kong stocks was not as good as that of foreign investors yesterday. The Hang Seng Index rose first and then fell, closing down 137 points or 0.57% to 23,966 points, falling 24,000 points and hitting a new low for one year.

The soaring energy prices have aggravated inflation in Europe, and investors are once again worried that inflation will continue to rise, which will hit the speed of economic recovery in Europe.

The three major European stock markets fell by more than 1% across the board, while the DAX index in Germany rose by 1.46%. The CAC index in Paris, France rose by 1.27%; The FTSE 100 Index rose 1.15%.

The small non-agricultural data released yesterday was better than the market expectation, and investors worried that the Federal Reserve would speed up the contraction, and US stocks rose early. Later, the market spread that the Democratic Party and the Party reached a plan to end the deadlock of the debt ceiling and avoid the US government's debt default.

The market sentiment immediately turned into optimism, with Dow Jones index falling by 400 points at most, rising by 102 points and closing by 0.3%, and S&P 500 index rising by 0.41%. Nasdaq index rose 0.47%.

Gold fell in Eurasia, and then the United States released small non-agricultural data, which rose for three consecutive months and beat expectations.

The yield of US 10-year Treasury bonds dropped, which stimulated the gold price to rebound from a low level. In addition, the market was still waiting for the official non-agricultural employment figures on Friday, and the gold price rose slightly to close yesterday.

The lowest price of gold was $1,746, and the highest price was $1,765, which closed at $1,762, up $3.

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