Investment 8/8/2023

The Hong Kong stock market was struggling. The HSI fell nearly 200 points in the early session. After reaching a low of 19,352, it bounced back to the 19,500 level and closed at 19,537, down 1 point. Hs Techn index closed at 4,499, up 2 points. The main board's full-day turnover shrank to HK$ 78.9 billion , breaking the line after breaking 100 billion for 7 consecutive days. 

The HSI successfully regained the 50-DMA (19,176) and 250-DMA (19,299) last week, and further rose above the 100-DMA (19,532). Since January this year, it has been a trend of one wave lower than one wave every time the high point is recovered. The HSI peaked at 20,361 last week, not only surpassing the June high of 20,156, but also surpassing the May high of 20,322. Therefore, for last week's drop, it can be regarded as a normal consolidation after the previous week's sharp rise. However, be careful not to fall below the 250-DMA and damage the consolidation pattern, and then test the strong support at 18,800 points.

Stocks such as mainland bank stocks have not seen capital promotion, and policies have not been loosened. Therefore, Hong Kong stocks are still in a consolidation pattern. In addition to paying attention to policy introduction factors, corporate performance periods are also very important because they have certain indicators. 

European stock markets developed individually. British and German stock markets fell 0.13% and 0.01% respectively, while French stocks edged up 0.06%. 

Before the release of the latest inflation data in the United States this week, global debt interest rates climbed, but Fed officials said that they are expected to turn around and cut interest rates next year. In addition, industrial and medical stocks led the gains. The US stock market performed significantly better on Monday. The Dow opened 59 points higher and then rose repeatedly. At one point it rose 431 points to 35,497; the S&P 500 index once rose 0.93%, while the tech-heavy Nasdaq Composite remained volatile, rising 0.63% and then falling 0.32%. 

The U.S. stock market closed, the Dow still soared 407 points to 35,473; the S&P 500 rose 40 points to 4,518; the Nasdaq rose 85 points to 13,994. 

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