The Economic Information Daily, October 30 - The property sector is under pressure, with New World (00017) down 2.9%, at HK$5.82; Sun Hung Kai (00016) down 1.6%, at HK$106.2; Henderson Land (00012) down 0.5%, at HK$26.24; and CK Asset (01113) down 0.3%, at HK$46.5.
US Treasury yields continued to rise, with the 30-year US Treasury yield briefly reaching 5.6206%, the highest since June 2002; the benchmark 10-year US Treasury yield rose to 5.293%, the highest since June 2007. Federal Reserve Governor Barr reiterated that the central bank may need to further raise interest rates to ensure inflation returns to the 2% target in a timely manner. Meanwhile, New York Fed President Williams said that if the economy evolves broadly in line with expectations, it might be appropriate for the Fed to raise rates once more later this year, but after the September hike, authorities need not rush to take further action.
In addition, US consumer confidence index in September fell 6.7 points month-on-month to 81.9, far below market expectations and the lowest since 2014; the August index was also revised down from the previously reported figure to 88.6. The expectations index dropped 5.9 points to 63.6, declining for the third consecutive month, reflecting consumers' increasingly pessimistic outlook on the economy and employment prospects over the next six months.
Currently, the Hang Seng Index stands at 24,390, down 133 points or 0.5%, with turnover of nearly HK$12.4 billion on the main board. The Hang Seng China Enterprises Index is at 8,129, down 49 points or 0.6%. The Hang Seng Tech Index is at 4,231, down 18 points or 0.4%. (am)
US Treasury yields continued to rise, with the 30-year US Treasury yield briefly reaching 5.6206%, the highest since June 2002; the benchmark 10-year US Treasury yield rose to 5.293%, the highest since June 2007. Federal Reserve Governor Barr reiterated that the central bank may need to further raise interest rates to ensure inflation returns to the 2% target in a timely manner. Meanwhile, New York Fed President Williams said that if the economy evolves broadly in line with expectations, it might be appropriate for the Fed to raise rates once more later this year, but after the September hike, authorities need not rush to take further action.
In addition, US consumer confidence index in September fell 6.7 points month-on-month to 81.9, far below market expectations and the lowest since 2014; the August index was also revised down from the previously reported figure to 88.6. The expectations index dropped 5.9 points to 63.6, declining for the third consecutive month, reflecting consumers' increasingly pessimistic outlook on the economy and employment prospects over the next six months.
Currently, the Hang Seng Index stands at 24,390, down 133 points or 0.5%, with turnover of nearly HK$12.4 billion on the main board. The Hang Seng China Enterprises Index is at 8,129, down 49 points or 0.6%. The Hang Seng Tech Index is at 4,231, down 18 points or 0.4%. (am)
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| New World (00017) | 5.82 | Down 2.92% |
| Sun Hung Kai (00016) | 106.2 | Down 1.58% |
| Henderson Land (00012) | 26.24 | Down 0.46% |
| CK Asset (01113) | 46.5 | Down 0.34% |
| Sino Land (00083) | 10.11 | Down 0.49% |
| Link REIT (00823) | 37.26 | Down 0.37% |
| Kerry Properties (01997) | 30.28 | Down 0.59% |
| Tai Hung Kai Properties (01972) | 24.5 | Down 0.16% |
| Kerry Properties (00683) | 17.54 | Down 0.79% |
