{ETN News 29th Special Report} U.S. bond yields continue to rise, pressuring tech and internet stocks. Alibaba (09988) is down 1.7%, trading at HK$105.9; Tencent (00700) down 1.7%, at HK$432.4; Baidu (09888) down 0.9%, at HK$84.75; JD.com (09618) down 1.1%, at HK$103.3; Meituan (03690) down 0.9%, at HK$71.25; Kuaishou (01024) down 1.2%, at HK$30.32.
Overnight U.S. Treasury yields continued to climb, with the 10-year yield surging 6.9 basis points to close at 5.2298%, briefly approaching 5.27% during trading—the highest level in 19 years since before the 2007 global financial crisis. The 30-year yield rose 5.6 basis points, closing at 5.5466%, marking a new high since 2004.
Currently, the Hang Seng Index stands at 24,504, down 137 points or 0.6%, with main board turnover of nearly HK$53.7 billion. The Hang Seng China Enterprises Index is at 8,174, down 42 points or 0.5%. The Hang Seng Tech Index is at 4,243, down 52 points or 1.2%. (vs)
Overnight U.S. Treasury yields continued to climb, with the 10-year yield surging 6.9 basis points to close at 5.2298%, briefly approaching 5.27% during trading—the highest level in 19 years since before the 2007 global financial crisis. The 30-year yield rose 5.6 basis points, closing at 5.5466%, marking a new high since 2004.
Currently, the Hang Seng Index stands at 24,504, down 137 points or 0.6%, with main board turnover of nearly HK$53.7 billion. The Hang Seng China Enterprises Index is at 8,174, down 42 points or 0.5%. The Hang Seng Tech Index is at 4,243, down 52 points or 1.2%. (vs)
