Investment 28/6/2023

China's state-owned major banks "shot" the US dollar in the spot foreign exchange market to stabilize the recently weakened RMB. On Tuesday, the offshore RMB and the onshore RMB once rebounded by more than 300 pips. 

After falling 1,246 points in the past five days, the HSI opened 57 points higher, and then rose more and more. It rose by as much as 432 points and recovered the 19,000 level ,  It hit a high of 19,226, but encountered resistance when it touched the 20-DMA (19,196), and closed at 19,148, up 354 points. The HS Tech index closed at 3,972, up 99 points. The full-day turnover of the main board was HK$91.6 billion. 

Although the Hong Kong stock market rebounded by more than 400 points on Tuesday, investors are in a wait-and-see atmosphere. Unless the HSI can break through the 250-DMA(19,515) of the bull-bear boundary in the short term, the market outlook will continue to rebound. We should pay attention to whether the central government will actually implement favorable policies and whether the RMB will continue to strengthen, which will attract funds and push up the market. Downward, it is expected to have good support when it falls to 18,000 points. Short-term investors may use this level as an opportunity for a technical rebound. 

European stock markets stabilized at the end of the session, with UK, French and German stock markets up 0.11%, 0.43% and 0.21% respectively. 

The latest U.S. economic data was better than expected, coupled with the recovery of large-scale technology stocks, U.S. stocks performed well on Tuesday. After the Dow opened 24 points higher, it expanded to 260 points at the end of the period, reaching a high of 33,975, the first time since the past 7 trading days The index rose 1.28% at one point, reversing a two-day decline; the Nasdaq, which is dominated by technology stocks, rose as much as 1.82%. 

The U.S. stock market closed : The Dow rose 212 points,  to 33,926; the S&P 500 rose 49 points to 4,378; the Nasdaq rose 219 points to 13,555. 

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