Trade Policy Impact - The U.S. International Trade Court ruled against Trump's "reciprocal tariff" policy, stating it exceeded authority, leading to a temporary halt on tariffs[1][2] - The ruling alleviated concerns over global economic impacts, contributing to a rise in stock markets, with the Hang Seng Index increasing by 315 points or 1.4% to close at 23,573 points[1] Market Performance - The Hang Seng Tech Index rose by 2.5%, closing at 5,301 points, with total market turnover slightly increasing to over HKD 226.9 billion[1] - Net inflow from the Hong Kong Stock Connect was HKD 4.38 billion, indicating a recovery in market risk appetite[1] Sector Movements - High beta and small-cap stocks saw increased trading activity, with Meituan and JD.com shares rising by 6.6% and 4.2%, respectively[1] - The pharmaceutical sector experienced gains ahead of the American Society of Clinical Oncology (ASCO) meeting, with CSPC Pharmaceutical surging by 11.6%[5] Economic Indicators - The FOMC maintained interest rates amid inflation and growth concerns, with a cautious outlook on future economic data[3] - Manufacturing and services PMI data showed resilience in the U.S. economy, contributing to the Fed's decision to hold rates steady[3][15] Real Estate Trends - New home sales in 30 major cities increased by 0.2% year-on-year, with first-tier cities showing significant growth, particularly in Guangzhou with a 29.5% increase[7][8] - The inventory-to-sales ratio for major cities decreased to 85.3, indicating a tightening market[9] Risks and Outlook - Ongoing legal challenges and potential trade policy shifts pose risks to market stability and economic growth[2][18] - The market is entering a policy observation phase, with potential impacts from U.S.-China tensions and domestic economic conditions[14]
中泰国际每日晨讯-20250530
ZHONGTAI INTERNATIONAL SECURITIES·2025-05-30 02:43