Hong Kong drops on lack of new stimulus

US stocks fell due to concerns about the Middle East, a fall in large-cap tech stocks (except Nvidia), and reduced expectations for interest rate cuts following a strong US labour market. Oil prices rose above USD 80 a barrel on Middle East concerns, but then fell back due to lack of new stimulus measures announced by China. The USD strengthened to a 7-week high against major currencies, while gold held steady. Chinese stocks initially surged after a week-long holiday, but gave up some gains as investors were disappointed by the lack of new stimulus measures announced after the Golden Week holiday. This also weighed on Hong Kong shares, which are down sharply today. Manuel Villegas, Next Generation Research, notes that a Democratic sweep is a tail risk for digital assets.00:00 Introduction by Lucija Caculovic (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)07:34 Digital assets: Manuel Villages (Head of Next Generation Research)11:13 Closing remarks by Lucija Caculovic (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.