Daily

Yesterday, there was no definite diagnosis. The Hong Kong government announced the extension of the restriction order, but it was relaxed from 4 to 8.  The Education Bureau has also announced that classes will resume in an orderly manner in late June.

The Census and Statistics Department announced that the provisional estimate of the value of total retail sales in March this year was $23 billion, down 42% year on year.  The Hong Kong Retail Management Association expects retail sales in Hong Kong to decline by 30% to 50% in the first half of the year.

It points out that the local economy and unemployment situation are not good enough, and that the retail market will not improve greatly due to the dependence on the local market for business.

Yesterday, the Hang Seng Index rebounded 254 percent, thanks to the relaxation of social restrictions. Catering stocks did a good job on the news.  Export stocks are still performing well, which is the hope that after the new crown virus, the national trade will resume one after another.

Shenzhen and Shanghai markets are closed for the May Day holiday.

The U.S. stock market increased for two consecutive days, with the Dow Jones index rising 209 points to close at a near full-day low of 133, reflecting investors' wariness of the two major potential risks in the market.

Tensions between China and the United States are a time bomb, increasing market instability.  However, hit by the new coronavirus, corporate profits will be affected. Reuters reported that United Airlines plans to cut 30% of its management positions in October.

Large enterprises have to cut meat to save themselves. The prospect of profit is not optimistic.

The market has also heard that more enterprises are asking for government subsidies. U.S. Treasury Secretary Nuchin said that he will not provide assistance to U.S. oil companies because the current sharp drop in oil prices is a typical supply and demand problem and believes that oil prices will rebound.

As a matter of fact, the oil price has reached its longest rise in nine months, with 6 consecutive rises. The lifting of the seal in major economies has boosted market sentiment, while oil-producing countries have also implemented their production reduction agreements, easing supply pressure.

It is estimated that the oil price rise will continue and the oil price will return to US$ 30 a barrel in the short term.

With the restart of some global economies, the general optimism in the market has put pressure on gold prices.  Gold often benefits from extensive stimulus measures by central banks because it is widely regarded as a hedge against inflation and currency devaluation.

At this stage, it is still striving for between 1,700 US dollars.  For detailed analysis and operation suggestions, please CLICK the following links to join the group and inquire with the administrator.
https://chat.whatsapp.com/Ippy9Pn5hjyEV7gtgCbVo0