The Hong Kong market is expected to open lower on the 24th, pressured by a deteriorating external environment. U.S. stocks fell for a second day, with the Dow Jones Industrial Average closing down 506.93 points at 51,711.65 and the Nasdaq dropping 553.21 points to 25,137.69. The yield on the 10-year U.S. Treasury note rose to 4.699 percent, weighed down by concerns over AI investment and inflation worries amid higher crude oil prices. West Texas Intermediate crude futures surged 10.33 percent to 92.28 dollars a barrel, while New York gold futures fell 2.47 percent to 4,049.52 dollars an ounce. Ahead of the Communist Party of China Central Committee Politburo meeting, expectations for second-half economic policies and monetary easing measures are likely to underpin the market.
WTI crude futures surged 10.33% to $92.28/barrel, driven by supply concerns and higher crude oil prices.
Rising US Treasury yields and inflation worries pressure gold prices, as higher yields increase opportunity cost of holding gold.