Investment 27/6/2023

The HSI opened 44 points lower and then rose 111 points, hitting the 19,000 mark. It turned around when it reached 19,001 points, and fell more than 122 points at most. The longest drop in a month. The HS Tech index closed at 3,872, down 6 points. "Bei Shui" returned after a long holiday, but the market turnover only recovered to BHK$83.8 billion .

The Hong Kong stock market is about to close the index futures settlement and semi-annual end. It rebounded earlier under the effect of "window dressing" by the fund, but the HSI's rise to the 20,200 level has obvious resistance. It is expected that the HSI will continue to have adjustment pressure, and there is a chance to test the 18,300 support.   If it continues to fall repeatedly, there is a chance to test the 17,692 level. For weaker cases, see 14,597 again. 

According to the trend calculation: the HSI rebounded from 14,597 points on October 30 last year and peaked at 22,700 points on January 27 this year. If the fibo 0.618 times of the increase is adjusted, it will reach 17,692 points. 

The market continues to wait and see the rate hike progress of the US Federal Reserve, and whether the mainland will have specific economic support measures to affect the trend of Hong Kong stocks. 

As the geopolitical situation in Russia heats up, the U.S. dollar strengthens and the RMB continues to weaken. The central parity rate once reached 7.24, a new low since November last year. Since the beginning of this year, the currencies of major Asian countries have depreciated against the US dollar. The worst is the Japanese yen, which has fallen by nearly 9%. The best is the Indonesian rupiah, which has risen by 2.5%. However, in the second half of the year, as Japan is about to introduce easing, the yen will lead to a reversal, while the RMB will continue to expand its decline due to more easing policies that may come! 

European stock markets developed individually. British and German stocks both fell slightly by 0.11%, French stocks rose 0.29%; Russian stocks fell 1.5%. 

The Ross mercenary organization Wagner Group (Wagner Group) mutiny crisis has subsided, but the geopolitical situation is still unclear, investors remain cautious, US stocks struggled on Monday.  The Dow opened almost flat, and once fell back and forth by 117 points, reaching a low of 33,610，it has repeatedly risen by 92 points, reaching a high of 33,819; the Nasdaq once fell by more than 1% under pressure, and both the S&P and the Nasdaq closed close to the lowest level of the day. 

U.S. stocks closed. The Dow lost 12 points to 33,714; the S&P 500 dropped 19 points to 4,328; the Nasdaq fell 156 points to 13,335. 

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