Investment 12/7/2023

The Hang Seng Index opened 191 points higher at 18,671, and then fell as low as 18,573, only up 94 points. Afterwards, it regained its courage and reached a high of 18,806 in the afternoon, up 327 points, and finally closed at 18,659, up 180 points, rising for 2 days in a row. The HS Tech index regained the level of 4,000 points and closed up 57 points at 4,003. However, the market turnover failed to match, only HK$83.9 billion , less than 100 billion  for 15 consecutive days. 

The HSI yesterday was boosted by factors such as U.S. debt interest rates, a fall in the U.S. dollar, a strengthening of the RMB ,  and the implementation of Ant’s fine, which means that regulatory risks in the mainland have been reduced, and Internet stocks are expected to rebound. However, the uptrend stopped before the 10-DMA(18,889), creating black candlesticks for 5 consecutive days, reflecting heavy selling pressure at high levels. However, if the p market can push back the falling gap of 18,973 to 19,095 points last Thursday (6th), break through the downward track (19,100) since mid-June and stabilize on it, the market sentiment will improve. However, the performance of the mainland economic data is insufficient. The short-term resistance of the HSI is expected to be between 19,200 and 19,400, and there is no sign of breaking it. And there is strong support at 18,000. 

The market is in a wait-and-see atmosphere. Investors are not only watching how the US inflation data will affect the pace of the Fed's interest rate hike, but also waiting to see whether the second-quarter US corporate results will reflect the slowdown in the US economy. 

European stock markets generally performed well, with British, French and German stocks rising 0.12%, 1.07% and 0.75% respectively. 

The market expects that the US inflation will continue to fall in June. The US stock market sneaked up on Tuesday. The Dow opened 112 points higher and then climbed up. At one point, it rose 344 points to a high of 34,288. The S&P once rose 0.77%; , to close closer to the day's high. 

The U.S. stock market closed  : The Dow climbed 317 points to 34,261; the S&P 500 rose 29 points to 4,439; the Nasdaq rose 75 points to 13,760. 

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