Investment 1/11/2023

Hong Kong stocks barely touched the 17,000 level on the last trading day of October. After opening 68 points lower, the Hang Seng Index expanded its decline, falling as much as 364 points, and found support as low as 17,042 points. It closed at 17,112 points, down 293 points; the HS Technology Index closed at 3,759 points, down 95 points. The main board's total daily turnover was HK$84.6 billion. 

Summing up the traditional "stock market crash month" in October, the disaster was not considered very serious. The Hang Seng Index fell by 697 points, or 3.91%, for the whole month, falling for three consecutive months. The HS tech  index fell 161 points, or 4.1%. 

The U.S. stock market rebounded significantly the next night, but judging from the past period of time, it is still wave after wave. It is unclear whether the market outlook will turn optimistic. The outlook for the Hong Kong stock market depends on the future trading days. If the 10-DMA (17,301) can cross the 20-DMA (17,450), there are still conditions to further challenge the 50-DMA (17,801). 

The market has long expected that the Federal Reserve will keep interest rates unchanged at this meeting, so even if the authorities remain unchanged, it will not bring surprises. Investors are more concerned about when to cut interest rates. It is expected that interest rates will peak soon, but the high interest rate environment will continue, which is not good for the stock market. It is expected that the market may rebound in early November, but negative factors are still brewing, and it is expected to repeatedly test lows in late November. 

European stock markets developed individually, with British stocks closing down 0.08%, while French and German stocks rose 0.89% and 0.64%. 

As the U.S. Federal Reserve began its interest rate meeting on Tuesday, U.S. stocks rose repeatedly. After opening 100 points higher, the Dow Jones Industrial Average turned around and fell as much as 141 points to a low of 32,787 points. At the end of the period, it rose as much as 141 points to a high of 33,070 points; the S&P 100 once reversed course. rose 0.69%. The Nasdaq, which is dominated by technology stocks, fell 0.72%.

 U.S. stocks closed, with the Dow rebounding 123 points to 33,052 points; the S&P 500 rising 26 points to 4,193 points; and the Nasdaq rising 61 points to close at 12,851 points.

 Cumulatively in October, the Dow fell 1.4%, the S&P 500 lost 2.2%, and the Nasdaq fell 2.8%. All three major indexes fell for the third consecutive month.