Investment 22/11/2023

Hong Kong stocks encountered resistance after rising above the 18,000 mark in the early morning. After opening 154 points higher, the Hang Seng Index rose by as much as 279 points, reaching a high of 18,057 points. Selling pressure intensified in the afternoon and once fell nearly 100 points, closing at 17,733 points, down 44 points. The technology index closed at 4,037 points, down 40 points. The main board's total trading volume for the whole day was HK$107.2 billion.


 U.S. inflation is milder than expected, market expectations for interest rate hikes have cooled, U.S. stocks have risen well in recent days, and the RMB exchange rate has strengthened, all of which are beneficial to Hong Kong stocks. The short-term rebound momentum of the Hang Seng Index is expected to be sustainable. It is expected that the 10-DMA (17,598) will break through the 50-DMA (17,610) today, showing a golden cross signal. It is expected to try the 18,000 level again. If the market moves further upward, the first target should be the October's high of 18,290, and looking higher is September’s high of 18,899. However, there is still a lot of resistance at 19,000 points, and short-term expectations are mainly in this range. 


European stock markets were soft, with British, French and German stocks falling 0.19%, 0.24% and 0.01% respectively. 


The Federal Reserve released the minutes of its last interest rate meeting in the early hours of Wednesday Hong Kong time, sending a signal of unity in "prudently advancing further interest rate increases." All policymakers believe that interest rates will be kept restrictive for a period of time. If the fight against inflation Insufficient progress will lead to further tightening. 


Before the release of the minutes of the U.S. Federal Reserve's interest rate meeting and the release of Nvidia's results, investors turned cautious. U.S. stocks came under pressure on Tuesday. The Dow opened 46 points lower and then immediately fell. It fell 112 points to a low of 35,038 points. After the interest rate record was released, the Dow Jones Industrial Average maintained a low trading pattern. The S&P 500 fell as much as 0.48%, and the Nasdaq once fell 0.97%. 


At the close of the U.S. market, the Dow fell 62 points to 35,088 points, ending its winning streak in the past two trading days; the S&P 500 fell 9 points to 4,538 points, and the Nasdaq fell 84 points to 14,199. The Nasdaq and S&P 500 closed together. Ending the rising trend of the past 5 trading days. 

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