Investment 26/10/2023

Hong Kong stocks rose first and then recovered, barely ending the 4-day decline. The Hang Seng Index opened 473 points higher and was unable to go higher. It continued to retreat when the Chief Executive delivered the "Policy Address." The gain in late trading narrowed to only 9 points, reaching a low of 17,001 points. It closed at 17,085 points, up 93 points. The HS technology index closed at 3,700 points, up 78 points. The main board's full-day turnover was HK$95.4 billion. 


The mainland issued an additional trillion RMB of government bonds to stimulate the economy, but the positive factors are still limited. The stock and property market measures in Hong Kong's "Policy Address" are only at the lower limit of market expectations. There is still a lack of good news overall, which has caused the stock market to recover. The original trend. At present, the purchasing power of the market is still insufficient, and it is expected that the market outlook will continue to be weak. The short-term support level is 16,830 points, the low of November 28 last year. However, it is pointed out that the support is not strong and the market will bottom out further at any time. Many factors such as geopolitics, high debt interest rates, and concerns about domestic property debt have affected investors' willingness to enter the market. The market lacks upward momentum. Going by the trend, the next key support level is around 15,800 points. In a weaker scenario, the Hang Seng Index will return to the low of 14,597 at the end of October last year. 


European stock markets stabilized at the end of the day, with British and French stocks both rising by about 0.3%, and German stocks slightly rebounding by 0.08%. 


The latest performance of technology companies in the United States was mixed, and the 10-year bond interest rate rose again. U.S. stocks were repeatedly under pressure on Wednesday. The Nasdaq fell more than 2%, the S&P 500 dropped more than 1%, and the Dow fell more than 100 points. After opening 62 points higher, the Dow once rose 126 points to a high of 33,267 points, and then fell as much as 151 points to a low of 32,989 points. It still closed 105 points lower at 33,035 points; the S&P 500 fell 60 points to 4186 points; The Nasdaq, which is dominated by technology stocks, fell 318 points to 12,821 points. 

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