In January, following the year-on-year increase in CPI, the month-on-month increase in PPI in the US rebounded more than expected, hitting the highest monthly increase in five months, highlighting the persistent high inflation pressure. This caused a decline in the US stock market, but the performance of bulk commodities remained strong, indicating that US inflation has a significant impact on equity assets, while demand for bulk industrial products is mainly driven by China's economic recovery.
From a consumption perspective, the elasticity of consumption repair has increased, which will lead to some areas of supply lagging behind demand in the short term. Looking at the supply and demand relationship of industrial products represented by steel, the demand for industrial products has also accelerated recovery. Therefore, for the current market, it is recommended to continue to focus on buying opportunities after adjustment, and be cautious about chasing after high prices.
As for the recent adjustment in the Hong Kong stock market, this trend is actually quite normal, mainly due to the large profit-taking and the fact that the market sentiment is still sensitive. Considering that the current market is still a relatively strong market, regardless of high-frequency economic data or policy environment, it is recommended to pay attention to buying opportunities after the adjustment.
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