miniarcadegames| Arm's annual revenue is sluggish: AI spending boom slows down, China's exports resume growth, and Hong Kong stocks and A shares both fall
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A shares opened low, while AI concept and biomedicine concept led the rise.MiniarcadegamesHong Kong stocks rose and fell, led by the retail sector. The revenue outlook of chip giant Arm is uncertain, and the market is worried about the slowdown of AI investment. China's trade data are expected to grow in April, while the yen is warned of weakness.
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MiniarcadegamesThe outlook for Arm revenue raises market concerns, and China's trade data are about to be released to predict growth
The Hong Kong stock market fluctuated in pre-market analysis, with Arm's modest outlook for annual revenue raising concerns that the artificial intelligence investment boom could cool, sending its shares down as much as 10 per cent.
The A-share market also showed a downward trend, with the Shanghai Composite Index at 3128.Miniarcadegames.48 points, down 0.Miniarcadegames.61%, the Shenzhen Composite Index and the gem Index fell 1.35% and 1.45% respectively. The AI concept and Biopharmaceutical concept sectors were strong, while precious metals were among the top gainers. However, the real estate sector led the decline, with a net northbound inflow of 1.79 billion yuan.
The Hong Kong stock market fell after surging, with Hong Kong's Hang Seng index falling 0.90% to close at 18313.86. The Hang Seng Technology Index and the State-owned Enterprises Index fell 1.29% and 1.07% respectively. The retail sector performed brightly, while coal stocks also showed strength. Southbound funds had a net outflow of HK $4.044 billion.
European stock indexes rose across the peripheral markets, while the three major u.s. stock indexes varied, with the Dow up 0.44%, the s & p 500 flat and the Nasdaq down 0.18%.
On the international trade front, China is about to release trade data for April, and the market expects imports and exports to rise year-on-year, in part because the base of comparison is no longer challenging and exports are supported by solid external demand.
Kazuo Ueda, governor of the Bank of Japan, warned of the sudden and unilateral weakness of the yen and said accelerating interest rate hikes would be an appropriate response if the risk of rising prices increased.
Investors need to be cautious in operation. The support position of the Hang Seng Index is 18205 and the resistance position is 18578. There may be investment opportunities in sectors such as pharmaceuticals.