Pre-market trend | POWER ASSETS (0006.HK) 5/7 volume reduction and pullback, should we pay attention to the cooling signal for high-yield stocks?

Yesterday's closing, POWER ASSETS stock price fell by 0.83%, with a trading volume of approximately HKD 202 million, performing relatively weakly in the utilities sector. The MACD daily chart shows signs of bearish signals, with short-term momentum weakening, which usually indicates that the previous upward trend is entering a phase of adjustment. In terms of volume, the trading amount has shrunk compared to previous days, with bullish forces temporarily retreating and the willingness to continue buying not strong. On the news front, the surge in global long-term bond yields has put pressure on high-yield utility stocks. The yield on Japan's 10-year government bonds has broken above 2.5% for the first time, while the yields on the UK and Germany's 30-year government bonds have reached new highs. Federal Reserve official Goolsbee has warned of rising inflation risks and even mentioned the possibility of interest rate hikes. In an environment of rising risk-free rates, the relative attractiveness of high-dividend targets like POWER ASSETS has been weakened, and some funds seeking stable returns may reconsider their allocation logic. However, POWER ASSETS' power assets are distributed across multiple global markets, and its cash flow stability remains outstanding, with the long-term holding logic fundamentally unchanged. Technically, the stock price has fallen to near the 5-day moving average, and if it cannot stabilize and rebound in the short term, it may further test the support level of the 10-day moving average. The combination of shrinking volume and weakening stock price indicates that the current market is in a phase of increasing divergence between bulls and bears. In the same sector, Cheung Kong Infrastructure only rose by 0.30%, and the overall momentum of defensive stocks is slowing. The short-term trend is cautiously referenced, with weakening technical momentum combined with expectations of rising interest rates, putting short-term valuation pressure on high-yield stocks. If global bond market sentiment improves or the stock price receives effective support at key moving averages, the weak pattern may still have the potential to reverse