Investment 1/12/2023

Hong Kong stocks were sluggish on the last trading day of November, and saw action at the 17,000 level most of the time. The Hang Seng Index fell 130 points in the early stage and found support after reaching a one-year low of 16,863 points. It stabilized repeatedly in the afternoon and closed at 17,042 points, up 49 points or 0.29%, ending the 4-day decline. The technology index failed to recover its losses and closed at 3,899 points, down 10 points or 0.27%. The main board's total trading volume for the whole day was HK$139.1 billion. 

The Hang Seng Index mainly fluctuated between 17,000 and 18,000 points in November. It fell by 69 points or 0.4% in the whole month, falling for four consecutive months. The HS technology Index outperformed the market, rising 140 points or 3.72% for the month. 

The market still seems to be concerned about the impact of the mainland's macroeconomic downturn on corporate profits. The short-term adjustment momentum of the market is not yet complete. Unless there is more good news confirming the improvement of the mainland's economic environment, especially whether the real estate market, which is the most important, is picking up, and whether relevant measures can be effectively implemented, it can be considered that December has the conditions for a significant rebound. 

European stock markets rose across the board, with British, French and German stocks rising by 0.41%, 0.59% and 0.3% respectively, while the MSCI World Index rose by approximately 8.9% in November. 

The latest data from the United States showed that the economy and inflation continued to cool down, strengthening the market's confidence in the Federal Reserve's early easing of policy. U.S. stocks developed individually on Thursday. The Dow opened 166 points higher and then quickly rose. Near the close of the market, it further strengthened, rising as much as 540 points. It reached a high of 35,970 points, a new high this year; the S&P 500 index once rose 0.42% repeatedly; large technology stocks were under pressure, dragging down the Nasdaq, which is dominated by technology stocks, once fell 0.92%. 

At the close of the U.S. stock market, the Dow continued to rise by 520 points, or 1.47%, to 35,950 points; the S&P 500 index rose 17 points, or 0.38%, to 4,567 points; the Nasdaq retreated 32 points, or 0.23%, to 14,226 points. 

In November, the Dow gained 8.9%, reversing its consecutive decline in the past three months. The S&P 500 also climbed 8.9%, and the Nasdaq soared 10.7%. All three major indexes achieved their best monthly performance since July last year.