The US stock market hits new record highs. Last Friday, at the close of trading on the East Coast, the three major indices all rose—Dow Jones Industrial Average increased by 0.48% to 49504.07 points, the S&P 500 rose by 0.65% to 6966.28 points, and the Nasdaq Composite climbed by 0.81% to 23671.35 points, with chip-related stocks like Intel performing particularly well, gaining over 8%.

Meanwhile, the Asia-Pacific markets showed divergence. The Hang Seng Index closed the night session up by 0.68%, and the Hang Seng Tech Index rose even more, by 0.75%, with the Hong Kong tech sector defying the trend. The FTSE A50 futures index edged slightly higher by 0.35% during the night session. However, Chinese concept stocks came under pressure—Nasdaq Golden Dragon China Index fell by 1.30%, China Technology ETF (CQQQ) declined by 0.52%, while China Internet ETF (KWEB) saw a slight increase of 0.21%.

In the foreign exchange market, the offshore RMB against the US dollar is quoted at 6.9745. Global asset allocators should pay attention to this combination of signals: strong US stocks, a positive outlook for Hong Kong tech stocks, and a relatively stable RMB.