Investment 25/9/2023

It is rumored that the mainland is considering relaxing the cap on foreign shareholding in domestic listed companies in order to attract global funds to return to the mainland stock market. A-shares have strengthened. In addition, the market is looking forward to the announcement of short-term measures to improve the liquidity of Hong Kong stocks, and there are short positions taking advantage of the opportunity. Thus, As a result, Hong Kong stocks fell first and then rose on Friday, hitting the 18,000-point mark. 


The HSI fell nearly 100 points in the early session to 17,573 points and hit its August low before rebounding to close at 18,057 points, up 402 points; the HS Technology Index closed at 3,991 points, up 142 points. The main board's total daily turnover was HK$101.8 billion, exceeding HK$100 billion for the first time in a week. 


Hong Kong stocks made a big comeback on the last day of last week, with the HSI narrowing its losses for the week to 125 points; the HS Tech index fell below the 4,000-point mark, falling 86 points for the week, underperforming the market. 


The recent weak trend of Hong Kong stocks reflects that investors are waiting to see the housing sales and economic conditions in the mainland. The tug-of-war is expected to continue for some time. The HSI has fluctuated between the low of 17,573 on August 22 and the 20-DMA (18,174), and it is difficult to recover in the short term to the level of 18,400, we should also pay attention to whether it can hold the rising gap of 17,364 to 17,536 points on November 29 last year. Once it falls, the next support level will probably be between 17,000 and 17,200 points. 


European stock markets developed individually, with British stocks rising slightly by 0.07%, but French and German stocks falling by 0.4% and 0.09% respectively. 


U.S. bond interest rates fell back after rising, and U.S. stocks were mixed on Friday. After opening slightly higher by 6 points, the Dow rose repeatedly by up to 85 points, reaching a high of 34,156, before closing down by more than 100 points. The S&P 500 index once climbed 0.63%, led by technology stocks. The Nasdaq, which is dominated by the index, once rose 0.98%; the three major indexes all closed close to the day's low. 


The U.S. stock market closed: the Dow fell 106 points to 33,963; the S&P fell 10 points to 4,320; the Nasdaq fell 12 points to 13,211. The Dow fell 1.9% over the week, the S&P 500 fell 2.9%, and the Nasdaq fell 3.6%. 

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Investment 24/4/2026

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