HK Stock Market Move | Golden stocks are under pressure and falling, as Powell releases a slightly more hawkish signal than expected by the market, and high oil prices continue to strengthen concerns about inflation.

Gold stocks are generally lower, as of the time of writing, CHINAGOLDINTL (02099) fell 3.44%, trading at 174.5 Hong Kong dollars; Shandong Gold Mining (01787) fell 3.38%, trading at 31.42 Hong Kong dollars; ZIJIN GOLD INTL (02259) fell 3.03%, trading at 169.7 Hong Kong dollars; Chifeng Jilong Gold Mining (06693) fell 1.41%, trading at 41.82 Hong Kong dollars. On the news front, the nominee for Federal Reserve Chairman, Powell, sent a more hawkish signal at a Senate hearing, further lowering market expectations for interest rate cuts. Powell stated that he had not promised President Trump any interest rate cuts and tried to assure senators considering his nomination that he would act independently of the White House while pushing for broad reforms. It is worth noting that high oil prices continue to strengthen inflation concerns, with oil prices rising above $100 per barrel yesterday. US President Trump announced that, in response to a request from Pakistan, the US will extend the ceasefire until Iran submits a unified negotiation proposal and completes negotiations. However, Iran has explicitly stated that it did not request an extension of the ceasefire and has formally refused to attend the second round of negotiations scheduled for April 22 in Islamabad.