US will announce non-farm payroll on Friday, while OPEC will have productionmeeting, together with A share lack of direction, investors prefer to stay sideline.
HK stock narrow range trade on Thursday. Hang Seng Index rose 98 points to20,859. H share index rose 48 points to 8,756. Market turnover was HK$57.9bn.
A Hong Kong listed state-owned steel manufacturer revealed that there is somemajor event under study, steel stock rose sharply on Thursday.
Oil producing countries cannot reach agreement to freeze oil production, oil pricedropped on early Thursday. Besides, the US private payroll additions in May isslightly below expectation, US stock market opened lower on Thursday. However,oil price rebounded again in late session, together with continuous buying intereston healthcare sector, US stock market closed higher on Thursday while majorindex closed at recent highs. The Dow and the Nasdaq rose 49 points (to 17,839)and 19 points (to 4,971) respectively. On the other hand, US treasury yielddropped on Thursday, 10 Year treasury yield dropped 4 basis point to 1.81%.
Speculate of MSCI to include A share index during the annual review at mid-June,continued to boost the A share market. On the other hand, investors will also keepa close eye on US non farm payroll data, to judge US interest rate hike pace. HangSeng Index major resistance is at 21,000.