Market Performance - A-shares experienced a pullback after an initial rise, with the Shanghai Composite Index down 0.2% and the Shenzhen Component down 0.5% for the week[3] - The Hang Seng Index rose by 1.1%, while the Hang Seng Tech Index fell by 0.7%[3] - The S&P 500 and Nasdaq 100 dropped by 2.6% and 2.4%, respectively, amid rising trade tensions and tariff threats[3] Trading Volume and Activity - Average daily trading volume decreased to CNY 1.17 trillion, a 7% decline from the previous week[3] - Small-cap stocks accounted for 50.6% of A-share trading volume, the highest level since 2014[3] - The turnover rate for the A-share market was 1.4%, with a Z-score of 0.4, indicating a slight decrease in trading activity compared to historical averages[3] Sector Performance - The healthcare, comprehensive, and non-ferrous metals sectors led gains, while the technology sector faced the largest declines[3] - The beauty and personal care sector, which had seen five consecutive weeks of gains, experienced a pullback this week[3] Bond Market - U.S. Treasury yields continued to rise, with the 10-year yield increasing by 8 basis points to 4.51% and the 30-year yield rising by 15 basis points to 5.04%[3] - Domestic bond yields showed narrow fluctuations, with the market reacting to changes in liquidity and economic data releases[3] Currency and Commodity Trends - The U.S. dollar index fell by 1.8%, while the offshore RMB appreciated by 0.5% against the dollar, closing at 7.17[3] - Gold prices surged by 4.9% to USD 3,358 per ounce, marking the largest weekly increase since April 12[3] - WTI crude oil prices decreased by 1.2% to USD 61.8 per barrel, influenced by geopolitical tensions and OPEC+ production reports[3]
周度金融市场跟踪：贸易争端再抬头，A股冲高回落，美债收益率继续上升，国内债市窄幅波动-20250525
Bank of China Securities·2025-05-25 11:31