Investment Insights

CIO Viewpoints

HK stock market - Biomedicine and AI in focus

Daily Insights

Focus of the Day

  • India’s Nifty 50 touches 200-week moving average

Other Commentaries

  • China rolls out first mortgage interest subsidy scheme; US consumer confidence falls to 12-year low; Meta AI agents expand functionality for small businesses

Market Analysis

FX Markets Analysis

Latest Technical Highlights

AUD - Uptrend↗

Support / Resistance

vs HKD 5.4292 / 5.6488

vs USD 0.69 / 0.72

Australia’s central bank unanimously voted on Tuesday (29th) to hike interest rates to 4.60%, the highest level in 15 years, while indicating that further rate hikes could not be ruled out. Markets are now focused on Australia’s August CPI inflation data, due on Wednesday (30th), for clues about the prospects of further rate hikes

 

Legends

Uptrend ↗  Sideways →  Downtrend ↘

*Pertaining to historical technical trend analysis only and do not reflect any forecasts or any forward looking views

Provided by Hang Seng Investment Services Limited

Stock Markets View

  • AI-agent launches by a major social platform signal faster adoption and supported US equities. Upcoming results from leading US memory chip and sportswear companies may offer fresh market direction
  • Eurozone business activity remains resilient, but Middle East geopolitical risks persist. Elevated energy prices may keep inflation and interest rates higher, capping European equity performance
  • Technology-heavy Asian markets have outperformed recently, underscoring solid growth potential. Near-term performance remains exposed to elevated US rates and Middle East geopolitical risks
  • The US Dollar Index remains elevated, but emerging-market economies are broadly resilient. Corporate earnings also benefit from firm commodity prices, providing some support for equities
  • China-US agreements on reciprocal tariff cuts and an extended trade truce should help stabilise trade ties. Near-term catalysts include mainland property data and Golden Week consumption
Legends

Positive - Expect that the particular asset class potentially may perform well relative to the relevant major global benchmark(s) in the long run
Neutral - Expect that the particular asset class potentially may perform in line relative to the relevant major global benchmark(s) in the long run
Cautious - Expect that the particular asset class potentially may not perform well or in line relative to the relevant major global benchmark(s) in the long run

Provided by Hang Seng Investment Services Limited

Bond Markets View

  • Strong US economic activity has lifted market expectations for further rate hikes. Treasuries remain volatile, although easing Middle East tensions have offered yields some respite.
  • US investment-grade spreads widened modestly as yields climbed to nearly three-year highs. Attractive yields could help bolster investor demand
  • Asian investment-grade bonds are more resilient than US peers. Limited spread moves underscore solid investment-grade credit quality
  • US high-yield bonds turned volatile in late September, but robust primary-market demand suggests the asset class remains attractive
  • Asian high-yield bonds outperformed US peers. The market is led by mainland property and sovereign issuers, leaving it relatively less sensitive to US Treasury yield volatility
  • Emerging-market US dollar bonds rebounded in late September as Middle East tensions eased, oil prices retreated and risk sentiment improved
Legends

Positive - Expect that the particular asset class potentially may perform well relative to the relevant major global benchmark(s) in the long run
Neutral - Expect that the particular asset class potentially may perform in line relative to the relevant major global benchmark(s) in the long run
Cautious - Expect that the particular asset class potentially may not perform well or in line relative to the relevant major global benchmark(s) in the long run

Provided by Hang Seng Investment Services Limited

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