Investment 4/10/2023

The Hong Kong stock market entered the traditional "stock market crash month", and investors started to exert their strength. The Hang Seng Index opened 263 points lower and then jumped 596 points to a new low of 17,212 points this year. It then traded at low levels and closed at 17, down 478 points. The HS technology index closed at 3,817 points, down 103 points. The main board's full-day turnover was HK$86.1 billion. 


The mainland will release a series of economic data, including third-quarter GDP. Even if the data is better than market expectations, it may not be able to boost investor confidence in the current global investment atmosphere. It can only be done temporarily. It is expected that even if the market rebounds in the future, the Hang Seng Index will still have great resistance at the 50-DMA (18,500) level, making it difficult to reverse the disadvantage. From a technical perspective, since the Hang Seng Index fell below 17,500 points, it has continued on a downward trajectory, and may first test the low of 16,830 points on November 28 last year. It is also expected to have the opportunity to test 15,000 to 16,000 points. The support level is about last year's low. Near 14,600 points. 


European stock markets fell across the board, with British, French and German stocks falling 0.54%, 1.01% and 1.06% respectively. 


There was an unexpected surge in job vacancies in the United States, and the 10-year and 30-year bond interest rates hit new highs since 2007. Selling pressure on U.S. stocks surged on Tuesday. The Dow Jones Industrial Average fell more than 500 points, the Nasdaq fell more than 2% at most, and the yen fell below 150 per dollar mark. The Dow opened 114 points lower and then fell sharply, once falling 517 points and falling below 33,000, reaching a low of 32,916. The S&P 500 once fell by 1.68%, and the Nasdaq lost at most 2.25%. 


At the close of the U.S. stock market, the Dow still fell 430 points to 33,002. All gains accumulated since the beginning of this year evaporated and fell by 0.4%. The S&P 50 dropped 58 points to 4,229, still up 10% since the beginning of this year. The Nasdaq fell sharply by 248 points. points, reported 13,059. 

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