Hong Kong Stocks Experience Weekly Loss Amid Fading US Rate-Cut Bets
Friday, 24 May 2024, 02:50
Hong Kong Stocks Experience Weekly Loss Amid Fading US Rate-Cut Bets
Investors turn defensive after a 4-month rally as Hong Kong stocks fall for the fourth straight day. The market is facing its most substantial weekly loss since January due to fading US rate-cut bets and a lack of positive earnings surprises.
Reasons for the Decline:
- Lack of Positive Earnings Surprises
- Hawkish US Federal Reserve Stance
The gloom in the market is evident as the investor sentiment takes a defensive turn amidst the uncertainties in both the local and global markets.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.