Hong Kong Stock Weekly: Falling! Hang Seng Index fell 6% weekly. What happened?
Falling!This week, apart from rising 0.17% on Monday, Hong Kong stocks fell continuously for the other four days, and even fell to a climax on Friday, with the volume falling by 3.04%. The Hang Seng Index fell by 6.07% all week, the biggest decline since the end of October last year!What happened here?On the news front, Federal Reserve Chairman Powell testified before the Senate Banking Committee on Tuesday that "the latest economic data is stronger than expected, which indicates that the final interest rate level may be higher than the previous forecast." "If the overall data shows that it is necessary to accelerate the tightening rate, we are prepared to increase the pace of interest rate increase."After hawkish remarks were made, US stocks fell sharply. On Thursday, Silicon Valley banks
The process of 2021Q2 financial reporting season has been significantly accelerated. Last week, the financial reports of banking stocks generally exceeded expectations, but the market was cold. Investors' expectations were too high, and the decline in trading income was the potential reason. Among the more than 40 companies (accounting for 8% of S&P 500 companies) that have announced their results so far, 85% of them are expected to beat earnings, which is the second highest in history since the financial crisis, while the earnings forecast of US stocks in this quarter remains around 70% year-on-year. (Mainly contributed by industries that recovered after the epidemic, such as energy, materials, finance and optional consumption) More than 250 companies will report results this week, in