Investment 7/11/2023

Hong Kong stocks followed the external good. The Hang Seng Index opened 249 points higher, and then rose as much as 373 points to a high of 18,037 points. In the afternoon, the increase shrank to 235 points, and finally closed up 302 points to 17,966 points; the HS Tech index rose 161 points to 4,098 points. The market's turnover hit over HK$ 100 billion , rising to 115.1 billion , the most since mid-September. 

The improvement in the market sentiment is mainly due to the Federal Reserve's dovish announcement after the interest rate meeting. The market does not expect to raise interest rates this year, and there are even expectations of interest rate cuts, which drives the influx of funds into the stock market. The Hong Kong Hang Seng Index has crossed the 50-DMA again for three months, and has risen by 865 points for three consecutive days. I believe that the market has a good chance of reaching the end of this year, and funds may continue to absorb the Hong Kong stock sector. If the transaction volume cooperates, it will not be surprising to push the stock market higher in the short term. It is expected that in the short term, there may be a chance of reaching 19,000 points, with the support level being 17,300 points. 

European stock markets developed individually, with British stocks almost flat, German stocks and French stocks falling 0.35% and 0.48% respectively. 

The market expects that European and American central banks will cut interest rates as soon as next year, which is good for the stock market sentiment. U.S. stocks continued their rise on Monday. After the Dow opened 31 points higher, the increase once expanded to 105 points, reaching a high of 34,167 points. It still closed up 34 points at 34,095 points; The index rose for 6 days in a row, rebounding another 7 points to 4,365 points; the Nasdaq Composite, which is dominated by technology stocks, rose 40 points to 13,518 points.