Daily

March 9 th

Today's volatility range:

With the soaring yield of treasury bonds and the rise of the US dollar, gold prices returned to the falling track. Fortunately, they did not fall below the support level of 1675, but they were still weak. Today's proposed volatility is between $1674 and $1701.

UA Cinema announced the closure of the whole line yesterday. It was founded in 1985. It has shown countless excellent films and provided fantasy entertainment for Hong Kong people. It also has an organization that gave birth to the golden age of Hong Kong movies.

Finally, he lost to the impact of COVID-19, and was ordered by the government to suspend business for many times under the long epidemic situation. He still had to pay huge rent and other expenses while he had no income, which ended abruptly yesterday.

In Hong Kong, the land price is high, and the cost of operating cinemas is low. UA can withstand the low tide of movies that are copied into the city. However, in the face of competition from more entertainment platforms, it is only necessary to add a little audio equipment at home.

If you apply for a Netflex account, you can enjoy good movie quality at home, so cinemas will always be eliminated in Hong Kong. Perhaps this epidemic has only advanced its steps.

By the way, a warning sign is issued for real estate merchants. Pursuing high returns is like killing the goose that lays the golden eggs. Today UA is closed, and other cinemas are also in the cold winter. If they all choose to end, it will be the disappearance of an industry!

Hong Kong stocks rose first and then fell yesterday. Although financial stocks rose with the support of the national policy, other Hang Seng Index constituent stocks went worse, and Beishui continued to flow out. The Hang Seng Index finally fell below the 29,000 mark yesterday.

It closed down 1.9%, but its decline was only dwarfed by the Hang Seng Science and Technology Index. The soaring yield of US Treasury bonds made technology stocks with high P/E ratios bear the brunt.

Yesterday, the Hang Seng Science and Technology Index fell by 3.81%, which was more than 26% higher than the all-time high set at the beginning of last month. There are signs of a decline in the number of people infected with COVID-19 worldwide.

The United States recorded 42,000 new cases yesterday, while Britain had only 4.7 new cases, which is the country with the least new cases in Europe. Looking forward to the European economy overcoming the epidemic and getting back on the road,

Investors sought after cyclical shares and drove the atmosphere of the whole market to improve. Yesterday, all three major European stock markets rose sharply, and the German DAX index rose by 3.31%; French CAC index rose by 2.08%;

The FTSE 100 Index rose 1.34%.

U.S. Treasury Secretary Yellen told the media that the $1.9 trillion epidemic relief plan would help the U.S. economy recover, and did not think that the plan would lead to high inflation.

He also said that he was confident that Biden administration could push the American labor market back on track next year at the latest. Investors bet on old economic stocks and reduce their holdings of technology stocks with high price-earnings ratio.

The three major indexes of new york stock market developed individually, and the Dow Jones index rose by 0.97%; Standard & Poor's index fell 0.5%; Nasdaq index was the worst, down 2.41%. Gold prices rose first and then fell yesterday.

The price of gold rose this morning under the pretext of Saudi Arabia's attack, reaching a high of $1,714 per ounce. However, due to the US bond yield rising to 1.61% again and the recent strengthening of the US dollar,

The U.S. dollar index is close to 92 points, and the gold price returns to the falling track. The lowest price is $1,676 per ounce, with a fluctuation of $38, and finally closes at $1,683 per ounce, down $18.

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