Investment 5/9/2023

After falling nearly 1,700 points in August, the HSI rebounded at the beginning of September. The HSI opened 210 points higher at 18,592 points, and then extended its gains to 517 points, reaching a peak of 18,899 points. It rose 462 points throughout the day to 18,844 points. The HS technology index rose 125 points to 4,305. The quarterly inspection of the Hang Seng Index was implemented after the close of the market, driving the turnover of the main board to over HK$152.6 billion.

As soon as the market opened yesterday, the HSI once again crossed the 20-DMA (18,500), the resistance level of the previous two days. It slightly rose above the 50-DMA (18,898) but failed to stabilize. It closed at the falling gap on August 14 (18,792 to 19,049) inside.   I believe that if it rises above 19,049, it will show that the market has the strength to go up again. Recent news has tended to be positive, with the U.S. unemployment rate data being higher than market expectations; the Mainland lowering the foreign exchange deposit reserve ratio for financial institutions; coupled with the performance of the Mainland stock market and the rebound of the RMB, all news is positive for Hong Kong stocks. 

Monday is the Labor Day holiday in the United States, and U.S. stocks are closed. European stock markets first rose and then recovered. The pan-European index Stoxx 600 closed slightly down 0.04% at 457 points. It had risen as much as 0.88% in the early hours, and travel and leisure stocks rose 0.5%. British, French and German stock markets fell 0.16%, 0.24% and 0.1% respectively. 

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Investment 24/4/2026

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