The earnings growth rate of the US stock market's Mag7 plummeted, and Stock Connect (Southbound) saw a net inflow of HKD 17.01 billion on Friday.

Market Commentary

Approximately 10% of S&P 500 index constituents have reported earnings, with 88% of them beating EPS expectations. Financial giants like JP Morgan and BlackRock delivered strong results. The market expects overall Q1 profit growth to reach 13.2%. Market forecasts attribute a significant contribution to NVIDIA. If NVIDIA is excluded, the earnings growth rate of the Mag 7 would plummet from 22.8% to 6.4%. This means that, without NVIDIA, the growth rate (10.1%) of the remaining 493 companies in the S&P 500 would actually surpass that of the remaining 6 giants.

Southbound Stock Connect recorded a net inflow of HKD 17.01 billion on Friday. Among them, $TRACKER FUND(02800.HK) saw the largest inflow, reaching HKD 4.075 billion; followed by $HSCEI ETF(02828.HK), with a net inflow of HKD 1.289 billion. $CIG(06166.HK) recorded the largest net outflow, at HKD 120 million.

Source: KGI Securities