The Hang Seng Index experienced a volatile trading session, struggling to maintain its initial upward momentum amidst a backdrop of global economic uncertainty. Concerns surrounding persistent inflation and the potential for further interest rate hikes by major central banks weighed heavily on investor sentiment.
Market Performance
The index opened positively, buoyed by overnight gains in US markets. However, the positive sentiment proved short-lived as selling pressure emerged, particularly in the technology and financial sectors.
Key Factors Influencing the Market:
- Inflation Concerns: Rising inflation continues to be a major concern for investors globally.
- Interest Rate Hikes: The prospect of further interest rate increases by central banks is dampening market enthusiasm.
- Geopolitical Risks: Ongoing geopolitical tensions are adding to the overall uncertainty.
Analysts suggest that the Hang Seng Index is likely to remain range-bound in the near term, with market participants closely monitoring economic data releases and policy announcements for further clues about the future direction of the market.
