Investment 10/11/2023

The Hong Kong stock market fluctuated at 17,500 points. After opening low, the Hang Seng Index once rose 48 points, and then fell over 100 points, reaching a low of 17,457 points. It closed at 17,511 points, down 57 points. The HS technology index closed at 4,024 points, up 3 points. The main board's total daily turnover was HK$75.3 billion.


 After a round of rebound, Hong Kong stocks have mainly consolidated above 17,000 points in recent days. Federal Reserve Chairman Powell spoke the next night and did not have a clear direction on interest rates. However, investors are still looking forward to the end of the interest rate hike cycle. Interest rate futures also show that there is little chance of raising interest rates at the interest rate meeting in December or later. In addition, the U.S. Bond interest rates have fallen a lot from highs, which will be helpful to the stock market. However, the latest data released by the mainland shows that the producer price index (PPI) continues to decline, and more measures may be needed to avoid deflation. Secondly, we should also pay attention to whether there will be more effective measures for the mainland housing industry. It is expected that Hong Kong stocks may not change much in the short term. The Hang Seng Index is supported below 17,500 points and the resistance is at 18,000 points. It is believed that breakthrough policy news can drive the market further upward. 


European stock markets stabilized, with French stocks rising 1.13% as the best performers, British stocks and German stocks rising 0.73% and 0.81%. Data showed that the U.S. job market continues to slow down, providing justification for the Federal Reserve to end raising interest rates. However, before Chairman Powell's speech on Thursday, the U.S. stock market Dow Jones Industrial Average had repeatedly fallen, falling more than 100 points; after Powell's "hawkish" speech, U.S. stocks accelerated their decline, with the Dow Jones Industrial Average extending its losses to over 200 points, and the S&P 500 index ending its winning streak in the past eight trading days.


 The Dow opened 51 points higher and then went up and down repeatedly. In the end, it fell as much as 252 points, reaching a low of 33,859 points. It still closed down 220 points, or 0.65%, at 33,891 points; the S&P 500 dropped 0.81% to 4,347 points; with technology stocks The dominated Nasdaq fell 0.94% to 13,521 points. 

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