Investment 27/11/2023

Hong Kong stocks opened 139 points lower and then fell further. The Hang Seng Index closed close to the day's low, closing at 17,559 points, down 351 points or 1.96%, falling below the 50-DMA (17,591) and the 20-DMA (17,566). The technology index closed at 4,024 points, down 92 points or 2.24%. The main board's total daily turnover was HK$88.1 billion. 

The Hang Seng Index rose 105 points in a week, with a high of 18,057 points and a low of 17,532 points. The bottom of the Bollinger Channel gradually moved up from the 16,800-point level. I believe that after consolidating near the 50-DMA, there may be an opportunity to further challenge the 100-DMA (18,200) on the central axis of the channel resistance. However, last Friday's big black candlestick slightly fell below the 20-DMA. If it is confirmed that it has fallen below this level, the market outlook may once again test the 16,800-point support zone. 

The market expects that U.S. interest rates will peak and there may even be a chance of a rate cut next year, which will be beneficial to global stock markets. Although there are still uncertainties in the mainland's economic growth, which limits the short-term upside potential of Hong Kong stocks, as the RMB strengthens, the market outlook for Hong Kong stocks may not be too weak. 

European stock markets remained stable, with British, French and German stocks rising 0.06%, 0.2% and 0.22% respectively. 

Friday is the day after Thanksgiving in the United States. U.S. stocks only trade for half a day, and the three major indexes developed individually. After the Dow opened 26 points higher, the increase expanded to 126 points, reaching a high of 35,399 points, and closed at 35,390 points, up 117 points or 0.33%; The S&P 500 closed up 2 points, or 0.06%, at 4,559 points; the Nasdaq fell 15 points, or 0.11%, to 14,250 points.