Investment 31/7/2023

Hong Kong stocks fell first and then rose on the futures settlement day, approaching the 20,000-point mark. The HSI opened 220 points lower and then recovered quickly. Within half a day, the HSI rose to a high of 19,940 in the afternoon, and closed at 19,916, up 277 points, hitting a new high in more than a month. The HS technology index closed at 4,466 points, up 125 points. The full-day turnover of the Main Board was HK$137.7 billion. 

The HSI gained 841 points, or 4.4%, throughout the week; the HS Tech index gained 362 points, or 8.82%, outperforming the market. 

Last Friday (28th), the futures index of the HSI was settled, there was a move to switch positions, and Beishui bought goods, creating the fourth consecutive white candlestick, stabilizing at the 100-DMA(19,572), breaking through the top of the downward channel formed since February ( 19,680), the short-term is now strong, and it is expected to challenge the high of 20,155 on June 16, then the high of 20,321 on May 8, and then the high of 20,864 on April 17, which is a big resistance. If there is any adjustment, we will quickly test the support level of 19,500. 

But looking forward to the trend in August, the performance of the HSI will not be too optimistic in the mid-term. Unchanged, weaker conditions may return to test the low of 18,044 on May 31 this year.

European stock markets remained stable, with British, French and German stock markets rising 0.02%, 0.15% and 0.39% respectively. 

The slowdown in major U.S. inflation indicators and wage growth has boosted investor confidence in a soft landing for the economy. U.S. stocks rebounded on Friday. The Dow opened 160 points higher and then climbed up. It once rose to 282 points, reaching a peak of 35,565; the S&P rose as much as 1.2 %, the Nasdaq, which is dominated by technology stocks, rose sharply by 2.1% at one point, and the closing rally slowed down.

 The U.S. stock market closed, with the Dow narrowing its gain to 176 points to 35,459; the S&P 500 rose 44 points to 4,582; the Nasdaq rose 266 points to 14,316. 

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