Investment 25/7/2023

Stepping into the "Super Interest Rate Week", investors first sell goods to avoid risks. The HSI opened 207 points lower in the early session, at 18,867, and then fell more and more. In the afternoon, it jumped up to 513 points, reaching a low of 18,562, and finally closed at 18,668, a drop of 407 points. The   HS Technology Index fell 89 points to 4,015. The daily turnover of the main board was HK$ 93.5 billion . 

The HSI pierced the 19,000 level, the 20-DMA (18,955) and the 10-DMA (18,940) with a black candle yesterday.  In the market outlook, there is a great opportunity to test the bottom of the Bollinger Channel at 18,417.  If the decline does not stop, the low of 18,279 in early July should not be lost, otherwise it will test the low of 18,044 on May 31. In the short term, it still depends on the Politburo meeting this week, whether there will be more specific and large-scale plans, as well as factors such as the Fed's interest rate meeting. 

European stock markets developed individually. British and German stocks edged up 0.19% and 0.08% respectively, while French stocks fell 0.07%.

The results of the world's three major central banks' interest rate discussions were announced later this week. U.S. stocks generally performed well on Monday. The Dow once rose 236 points to a high of 35,463. It still maintained most of its gains at the close. The S&P 500 index once rose 0.6%, while the technology-heavy Nasdaq rose up to 0.55%. 

The US stock market closed. The Dow rose 183 points to 35,411; the S&P 500 rose 18 points to 4,554; the Nasdaq rose 26 points to 14,058.