Investment 26/9/2023

Hong Kong stocks opened 10 points lower and then fell further. The HSI fell as much as 334 points to a low of 17,722. It closed at 17,729, down 328 points. The HS technology index closed at 3,882, down 108 points. The main board's total daily turnover was HK$74.2 billion. 


There are rumors that the mainland is considering relaxing the cap on foreign ownership of some A-shares. Even if the rumors are true, we must pay attention to whether foreign investors are really interested in increasing their holdings of A-shares. It has not yet been seen. In addition, the U.S. Personal Consumption Expenditures (PCE) price index released this week should pay attention to whether inflation has dropped, which will affect the Federal Reserve's interest rate hike expectations. The current strength of the U.S. dollar is putting pressure on non-U.S. dollar assets. Hong Kong stocks should hold on to the highs set on August 22. This year's low is 17,573 points. Otherwise, it will test the rising gap of 17,364 to 17,536 points on November 29 last year. For the time being, the upper level is 18,300 points. If the transaction cooperates, it is expected to challenge the 50-day moving average (18,661). 


Dragged down by luxury goods stocks, European stock markets came under pressure across the board, with British, French and German stocks falling 0.78%, 0.85% and 0.9% respectively. 


The Federal Reserve may keep interest rates high for longer than expected. U.S. long-term bond yields continue to rise. U.S. stocks were mixed on Monday. The Dow opened 56 points lower. The decline repeatedly extended to 183 points, as low as 33,780, and then fell to lows. rebounded slightly at the close; the S&P 500 dropped at most 0.4%, and the Nasdaq once fell 0.6%. The S&P 500 and the Nasdaq also closed well; the three major indexes all ended their losing streak in the past four trading days. 


At the close of the U.S. stock market, the Dow Jones Industrial Average rose 43 points to 34,006; the S&P 500 rose 17 points to 4,337; and the Nasdaq rebounded 59 points to 13,271. 

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