Investment 13/7/2023

After the HSI opened 137 points higher, driven by technology and Internet stocks, it rose by as much as 272 points and reached a high of 18,932. The HSI finally closed at 18,860 for the whole day, up 201 points, and gained 495 points in three days. The HSI rose 78 points to close at 4,081. The turnover was only HK$83.8 billion . 

The HSI showed a white candle yesterday, ending the 5 consecutive negative trend, and it was above the 10-DMA(18,858), which is positive. The strength of Hong Kong stocks yesterday was mainly due to the weakening of the US dollar index and the recovery of the RMB.  Hong Kong stocks still need to pay attention to the trend of the U.S. dollar in the future market. If the U.S. dollar index continues to decline in the market outlook, the RMB continues to appreciate, or even the central government introduces stimulus measures, Hong Kong stocks are expected to further challenge last Thursday (6th) The gap between 18,973 and 19,095 points , and the extended descending track (19,100) since mid-June. The Hong Kong stock market has always been in the form of one wave lower than the next wave. The situation has continued since mid-March this year. In addition, the turnover of Hong Kong stocks has been less than 100 billion Hong Kong dollars for 16 consecutive trading days. It is expected that the Hang Seng Index will be difficult to break through. Breaking this pattern is expected For the time being, it can only hover between 18,200 and 19,400 points. 

The market generally expects that the Federal Reserve will resume raising interest rates in July, so unless the CPI data released later far exceeds market expectations, the market is expected to have already reflected the impact of the rate hike, so the news of the US rate hike in July is expected to have little impact on the Hong Kong stock market big. 

European stock markets reported gains across the board, with British, French and German stock markets soaring 1.83%, 1.57% and 1.47% respectively. 

The year-on-year increase in the U.S. consumer price index (CPI) slowed to 3% in June from 4% in May, the slowest pace since March 2021 and lower than the expected 3.1%, although that may not have stopped the Fed from The interest rate hike resumed at the end of the month, but investors hoped that the monetary tightening cycle would soon come to an end, and U.S. stocks surged sharply early on Wednesday. The Dow opened 133 points higher and then jumped up immediately, up 325 points at most, reaching a peak of 34,586. The index also rose by 1.11%, gaining money for 3 consecutive days. The Nasdaq, dominated by technology stocks, once jumped 1.47%, heading towards the 14,000 level. 

The U.S. stock market closed, and all three major indexes narrowed their gains. The Dow rose only 86 points to 34,347; the S&P 500 rose 32 points to 4,472; the Nasdaq rose 158 points to 13,918. 

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