Since March, the banking crisis in Europe and the US has further fermented, expectations for the Fed's interest rate hike have fluctuated sharply, fears of a recession have further impacted commodity prices, and the game in emerging markets has intensified.

As of March 30, 2023:

• European and American banks have been bombarded frequently, risk aversion of overseas capital continues to rise, and gold and silver have shown impressive performance among many assets.Despite the recent price correction, COMEX silver futures prices rose more than 14% in January, topping the world's major assets.

• In terms of the Hong Kong stock market, after experiencing the volatile adjustment trend in February, Hong Kong stocks have jumped many times since March influenced by news. Within the month$Hang Seng Index (800000.HK)$The cumulative increase was over 2.6%.$Hang Seng TECH Index (800700.HK)$An increase of nearly 9%.Market analysts believe that in the recent intensive disclosure period of Hong Kong stock annual reports, the performance of many leading companies has been better than expected by the market. However, it is anticipated that the Federal Reserve will cut interest rates ahead of schedule, which is particularly conducive to a rebound in growth stocks represented by Hang Seng Technology.

• Looking at the US stock market, in March, when the banking industry was turbulent and uneasy, bond market shocks compounded by falling interest rate hikes, and technology stocks became a “safe haven.”$Nasdaq Composite Index (.IXIC.US)$This month's cumulative increase of more than 4.8%, leading the way$S&P 500 index (.SPX.US)$(2.03%) and$Dow Jones Industrial Average (.DJI.US)$(0.62%)

On the other hand, market concerns about the economic outlook have put pressure on crude oil prices. Affected by weak demand, NYMEX gas prices continue to be sluggish, and investors still need to pay attention to related risks.

Editor/Corrine