Investment 17/11/2023

After the sharp rise the day before, Hong Kong stocks saw some profit-taking yesterday. The Hang Seng Index opened 95 points higher and reached a daily high of 18,174 points. It then fell 356 points to a low of 17,722 points. It closed at 17,832 points, down 246 points. The technology index closed at 4,049 points, down 76 points. The main board's total daily turnover was HK$115.1 billion, exceeding HK$100 billion for two consecutive days. The last time it occurred was in early September. 


The meeting between the heads of state of China and the United States did not produce many tangible results, but relations between the two countries may ease in stages. In addition, more policy news has been implemented in the mainland, and the performance of technology companies has generally been better than expected. Various news has caused the market to rebound briefly. The Hang Seng Index once rose above the 18,000 level due to heavy trading volume the previous day, but fell again yesterday. Unless it returns to the level immediately, the market outlook will return to the low of 16,879 points on October 24.


 European stocks showed individual developments, with British and French stocks falling 1.01% and 0.57% respectively, while German stocks rose 0.24%. 


The latest performance outlook of U.S. companies disappointed the market. U.S. stocks performed repeatedly on Thursday. The Dow opened 123 points lower and then fell repeatedly. It fell 173 points in the end, reaching a low of 34,818 points. The decline narrowed at the close; the S&P 100 once fell back 0.33%. , the Nasdaq fell as much as 0.5%, and then the S&P 500 and Nasdaq stabilized.


 At the close of the U.S. stock market, the Dow Jones Industrial Average fell 45 points to 34,945 points; the S&P Index rose 5 points to 4,508 points; and the Nasdaq Composite Index rose 9 points to 14,113 points. 

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