The US reported that the September CPI rose 3.7% year-on-year, higher than the market expectation of 3.6% and the previous figure of 3.4%, while rising 0.6% month-on-month, in line with expectations. The core CPI for September, excluding food and energy, rose 2.6% year-on-year, also above the expected 2.5% and the previous 2.4%, and rose 0.3% month-on-month, exceeding the expected 0.2%. The inflation data exceeding expectations boosted rate hike expectations, causing the yield on the US 10-year Treasury note to spike briefly above 5.3%, but subsequently attracted bargain buyers, causing the yield to quickly retreat to around 5.1%.
Austan Goolsbee, President of the Federal Reserve Bank of Chicago, said the US inflation data for September was concerning, and the persistently overheated US service sector data indicated that US prices were not solely affected by oil supply shocks, with inflationary pressures possibly spreading to broader areas of the economy. He warned that the construction of AI data centers and the related investment boom could further overheat the US economy, increasing the difficulty for the Federal Reserve to control inflation.
Currently, the Hang Seng Index stands at 24,039, down 275 points or 1.1%, with main board turnover nearing HK$76.4 billion. The Hang Seng China Enterprises Index is at 8,097, down 85 points or 1%. The Hang Seng Tech Index is at 4,074, down 99 points or 2.4%. (am)
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| New World (00017) | 4.91 | Down 2.77% |
| Sun Hung Kai (00016) | 105.4 | Down 1.86% |
| Henderson Land (00012) | 26.7 | Down 1.04% |
| CK Asset (01113) | 43.82 | Down 1.22% |
| Hysan (00014) | 15.83 | Down 1.49% |
| Kerry Properties (00683) | 17.57 | Down 1.4% |
| Sino Land (00083) | 10.34 | Down 1.52% |
| Link REIT (00823) | 37.62 | Down 0.37% |
| Wharf REIC (01997) | 30.36 | Down 0.13% |
