Investment 16/6/2023

The HSI opened 218 points higher at 19,626. In the afternoon, the mainland stock market rose, leading the HSI to expand its gains to 424 points , high saw 19,832, and finally closed at 19,828, up 420 points .  The HS Tech index broke through the 4,100 level and closed at 4,198, up 145 points, rising for 5 trading days in a row. Market turnover was HK$ 121.4 billion , a surge of 30% from the previous day. 

The HSI closed at close to the day's high, recovering the boundary between bulls and bears , i.e. 250-DMA (19,565) , and 50-DMA (19,716) , and hit a new one-month closing high. It is expected to have a chance to break through the 20,000 mark today, and the market outlook will challenge the May high of 20,300. If there is an adjustment, the initial support level is 19,400, and the greater support level is 19,000 points. At present, the market is still looking forward to the mainland's further economic stimulus policies. If the turnover continues to match, the performance of Hong Kong stocks will improve. 

European stock markets developed individually. British stocks rose 0.34%, but French and German stocks fell 0.51% and 0.13% respectively. 

As expected, the U.S. Federal Reserve kept interest rates unchanged, but according to the latest interest rate dot plot, there is still a chance to raise interest rates by half a percentage point for the rest of this year. U.S. bond yields fell after a surge, and the dollar also weakened, reflecting investors' expectations for interest rate cuts next year. The market expects that the Fed’s interest rate hike cycle may soon come to an end, coupled with the unexpected rise in U.S. retail sales data, driving U.S. stocks to perform better on Thursday. The Dow opened 33 points lower and then quickly turned up. It reached a high of 34,488 points; the S&P 500 rose by as much as 1.52% to 4,439 points, a 13-month high; the Nasdaq rose by as much as 1.48%, also hitting a new market high since April last year. The three major indexes finally closed with an increase of more than 1%. 

The US stock market closed, the Dow still soared 428 points to 34,408; the S&P 500 rose 53 points to 4,425; the Nasdaq rose 156 points to 13,782. 

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