U.S. Treasury bond yield jumped to 2.84%, a four-year high since Jan-2014. Global equity market cracked last week. CES SCHK50, which tracking large cap in HK market under Stock Connect Scheme, down 1.6%.
U.S. Technology stocks suffered selling pressure. Alibaba, JD & Baidu, which are CES P Elite index significantly weighted constituents, declined around 9%-10%. CES CPE overall dropped 5.6%.
Market rumors on China allowing gambling on Hainan Island, which may be a competitor to Macau’s casino. CES G10 declined 3.1%.
