Last week (November 17-21), the Hong Kong and US stock markets ended with fluctuations following the rhythm of "concern - stabilization - rebound". The US market experienced a sharp decline at the beginning of the week due to the correction of the AI sector and valuation concerns. However, with signs of support from the New York Fed President for interest rate cuts by the end of the year and the replenishment of risky assets before the weekend, the market rebounded significantly on Friday, causing the index to close higher than the midweek low. Overall, US stocks experienced increased volatility this week, with sentiment shifting from panic to cautious optimism.
In Hong Kong, $HSI(HSI)$ has been under pressure and declined this week, with a sharp drop on Friday. This was mainly influenced by the correction of technology and consumer stocks, the spread of risk aversion overseas, and concerns about weak macroeconomic data from China, including the manufacturing/service PMI. The weekly trading volume and individual stock option trading structure also indicated a decline in risk appetite.
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