Investment 13/6/2023

The market is waiting to see the US interest rate meeting starting on Thursday. Hong Kong stocks performed in a bullish manner and lacked direction. As the US stock market performed well last week, the HSI opened 51 points higher at 19,440, which is already a daily high. After that, it dipped downwards and reached a low of 19,255, down 134 points. In the afternoon, the A-shares went up and down, driving the HSI to rebound and finally closed at 19,404, up 14 points, with a day-to-day fluctuation of 185 points. The HS Tech index closed up 10 points at 3,944. The market turnover further shrunk to HK$80.3 billion , 7.3% less than the previous day. 

It is expected that Hong Kong stocks will continue to be depressed until the results of the Federal Reserve's interest rate meeting are announced. The market expects that the interest rate hike will be suspended this time, but for the subsequent pace of interest rate hikes, it is still necessary to continue to pay attention to the interest rate statement. Although Hong Kong stocks had an upward trend earlier, the cumulative rebound of the HSI was not small, and the positive news showed signs of cooling. It is expected that the HSI will see resistance at 19,500 to 19,800 points in the short term, and strong support at 18,600 points. 

European stock markets performed well, with British, French and German stocks up 0.11%, 0.52% and 0.93% respectively. 

The global financial market ushered in a super interest rate week this week. U.S. stocks turned upwards on Monday. After opening 30 points higher, the Dow expanded to a maximum of 201 points in the final period, reaching a high of 34,077 ,  most of the gains were maintained at the close; the S&P 500 index once rose 0.96%; The Nasdaq, which is dominated by technology stocks, once rebounded by 1.56%. 

The U.S. stock market closed, and the Dow narrowed its gain slightly to 189 points to 34,066, marking its fifth consecutive day of gains; the S&P 500 rose 40 points to 4,338; the Nasdaq still rose 202 points to 13,461. 

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