Investment 15/9/2023

Hong Kong stocks remained weak, hovering around the 18,000 mark throughout the day. After opening 93 points higher, the HSI rose by as much as 164 points. After reaching a high of 18,173 points, the trend reversed. It once fell by 80 points and reached a low of 17,928 points. It closed at 18,047 points, up 38 points. The HS technology index closed at 4,059 points, up 17 points. The main board's total daily turnover was HK$81.6 billion. 


After falling for 6 days in a row, the HSI finally rebounded yesterday, but the amplitude was not large and it was a black candlestick. It struggled at 18,000 for 4 consecutive days. In the past two days, it was controlled by the 20-DMA (18,182), and the transaction amount shrank. The HSI is expected to continue It fluctuated between 17,500 and 18,500 points, but it still failed to break the dull situation. Let’s see if the People’s Bank of China’s RRR cut to release liquidity into the market can lead to an upward breakthrough for the market. The first resistance level is the downward trajectory formed since August (18,500), and the falling gap (18,792 to 19,049) on August 14 is even greater. 


The market's expectations for interest rates have not changed much. It is still expected that interest rates will remain unchanged at the September interest rate meeting, but there are still differences on whether to raise interest rates in November and December. U.S. bond interest rates fell slightly overnight, but the market believes that the U.S. dollar will not weaken further. It still has to wait and see the trend of the RMB. It also depends on the August economic data released by the Mainland today. With the outlook unclear, investors are more cautious . 


European stocks rose across the board, with British, French and German stock markets rising by 1.95%, 1.19% and 0.97% respectively.


 After the Dow opened 111 points higher, the gain expanded to a maximum of 402 points, reaching a high of 34,977; the S&P 500 index once rose by 1%; the Nasdaq, which is dominated by technology stocks, rose by as much as 1.04%. At the close of the U.S. stock market, the Dow still rose 331 points, its best single-day performance since early August, to 34,907; the S&P 500 rose 37 points to 4,505; the Nasdaq jumped 112 points to 13,926. 

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