Investment 31/8/2023

Hong Kong stocks rose first and then fell on the futures settlement day. The HSI opened 175 points higher and rose as much as 258 points. It peaked at 18,742 points and then fell back. It fell 56 points in the last session; it closed at 18,482 points, down 1 point. The HS technology index closed at 4,195 points, down 39 points. The main board's full-day turnover was HK$108 billion. 

The HSI rebounded from oversoldness last week. Many funds were used to hedge against the rising market. A-shares were weak and the offshore RMB was under pressure. Yesterday, the HSI was high and then low. The 20-DMA (18,586) gained and then lost. As expected, it is subject to the resistance of the falling gap of 18,792 points to 19,049 points on August 14. The short-term support will first look at the upward track of 18,300 points, and then the lower 10-DMA (18,080). The introduction of economic stimulus policies is expected to challenge the 20-DMA again. 

European stock markets lacked a clear direction. British stocks rose 0.12%, while French and German stocks closed down 0.12% and 0.24%.

The latest U.S. employment and economic growth data were poor, pushing bond interest rates to continue to fall. U.S. stocks rose repeatedly on Wednesday. The Dow Jones Industrial Average opened 4 points lower and then turned higher. The increase once expanded to a maximum of 172 points, reaching a high of 35,025 points and regaining 35,000 points. However, Then it turned down, and the market rebounded slightly by 37 points to close at 34,890; the S&P 500 index once rose to 4521 points, but still rose 17 points to close at 4514, rising for 4 consecutive trading days, rising above 4,500 points; mainly technology stocks The Nasdaq rose 75 points to close at 14,019. 

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