Message from Coach
On this week’s market summary:
1⃣Hong Kong Monetary Authority sold HK$15.31 billions of local dollars on Monday and Tuesday to weaken the currency and bring it back within its trading band as, hot money inflows defy doomsday talk of capital flight after China’s security law.
2⃣The pace of US applications for unemployment benefits slowly retreated again last week, with new claims totalling US$1.31 million as businesses continue to grapple with the fallout from the spread of coronavirus.
3⃣Alibaba’s shares rose 10 per cent in a soaring HK market to close at a record HK$261.60, after advancing 9 per cent in New York overnight to US$257.68 giving the company nearly US$720 billion in market capitalisation, more than Facebook’s US$694.53 billion.
4⃣Margin loans to buy equities in China have risen to their highest level in five years, prompting fears that speculation on rising prices could lead to a re-run of a notorious stock market bubble that burst in 2015.
5⃣Global banks risk being caught between Beijing-backed penalties and sanctions being debated in the U.S. as Hong Kong’s autonomy becomes a volatile point of friction between the two superpowers.
One of the must-ask interview questions for banking and finance is: “Have you read any news recently?”, with the follow-up questions: “How would you link this news to the market and what investment suggestions would you give to your clients based on this news?”
Showing your market sense and ability to provide feasible investment ideas would help to differentiate you from other candidates. Therefore, apart from the weekly news update / investment insights, we have also generated this 4-page Weekly Market Summary for you to have a quick understanding of the market development and tips to answer some hot discussion topics.
Take a look of the summary and WhatsApp us in the group if you have questions