Investment 15/8/2023

The HSI opened 377 points lower and then fell by as much as 520 points, reaching a low of 18,554 points. The decline gradually narrowed in the afternoon and closed at 19,773 points, down 301 points. The HS tech index closed at 4,208 points, down 64 points. The full-day turnover of the Main Board was HK$104.1 billion. 

The HSI once fell to 18,554 points yesterday, piercing through the low point of 18,562 points on July 24. It is expected to test the support of 18,000 to 18,500 points. If it fails, the decline will intensify. If the market has stabilized and starts to rebound, it depends on whether it can fully cover yesterday's falling gap of 18,792 points to 19,049 points. The upper resistance level is 19,300 points. 

The domestic housing debt crisis spread further. Country Garden's 11 domestic bonds have been suspended since the opening of the market yesterday. Coupled with the weakening of the renminbi, there is pressure on the mainland's economic recovery, and investors' risk aversion is heating up. The Hang Seng Index was stuck in a consolidation pattern, and the rebound was weak. 

European stock markets developed individually. British stocks closed 0.23% lower, while French and German stocks rose 0.12% and 0.46% respectively. 

The 10-year bond yield hit a new high this year, but large-scale technology companies rose, and U.S. stocks struggled on Monday. The Dow opened slightly lower by 7 points and then fell. It once fell 111 points, reaching a low of 35,169 points throughout the day; it then turned around and rose 54 points , with a high of 35,335 points. Both the S&P 500 and the Nasdaq closed close to their highest levels of the day. 

The U.S. stock market closed, with the Dow rising 26 points to 35,307, its third consecutive trading day; the S&P 500 rose 25 points to 4,489; the Nasdaq rose 143 points to 13,788. 

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