---
title: "The UAE announced its withdrawal from OPEC, triggering a surge of over 3% in crude oil prices. The Stock Connect (for Hong Kong) saw a net inflow of 14.523 billion yuan on Tuesday."
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40275196.md"
description: "The global market is under a dual impact from geopolitics and energy turmoil. The UAE's announcement of its withdrawal from OPEC triggered a surge of over 3% in crude oil prices, pushing it back towards the $100 mark, directly fueling market inflation concerns. This led to a rise in US Treasury yields and a sharp drop in gold prices, approaching the $4500 threshold. In the tech sector, reports of Open AI's performance falling short of expectations have shaken confidence in AI investment returns, leading to a widespread pullback in chip stocks like $NVIDIA(NVDA.US), dragging down the Nasdaq. The market is currently focused on the Federal Reserve's interest rate decision, watching how Powell addresses this new wave of energy-driven inflation risks. Overall sentiment is turning cautious..."
datetime: "2026-04-29T02:51:15.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40275196.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40275196.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40275196.md)
author: "[真灼财经](https://longbridge.com/en/profiles/1067948.md)"
---

# The UAE announced its withdrawal from OPEC, triggering a surge of over 3% in crude oil prices. The Stock Connect (for Hong Kong) saw a net inflow of 14.523 billion yuan on Tuesday.

Global markets are under dual shocks from geopolitics and energy turmoil. The UAE's announcement of its withdrawal from OPEC triggered a surge of over 3% in crude oil prices, pushing it back towards the $100 mark, directly igniting market inflation concerns. This led to a rise in US Treasury yields and a sharp drop in gold prices towards the $4500 level. In the tech sector, reports of Open AI's failure to meet performance targets have shaken expectations for AI investment returns. Chip stocks, including $NVIDIA(NVDA.US), generally pulled back, dragging down the Nasdaq. The market is currently focused on the Fed's interest rate decision, watching how Powell will address the new wave of energy-driven inflation risks. Overall sentiment is turning cautious, with advice to monitor the combined pressure from oil prices and the AI sector.

Southbound Stock Connect recorded a net inflow of 14.523 billion yuan on Tuesday. Among them, $TRACKER FUND(02800.HK) saw the largest inflow, reaching 4.137 billion HKD; followed by the Hang Seng China Enterprises Index Fund (02828.HK). $BABA-W(09988.HK)  recorded the largest net outflow, at 1.251 billion HKD; followed by $TENCENT(00700.HK) .

Source: KGI Securities

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