Investment 8/11/2023

Hong Kong stocks retreated after rising for three days in a row. The Hang Seng Index opened 116 points lower and then repeatedly found the bottom. It fell as much as 307 points to a low of 17,658 points, making up for the gap left by the previous day. It closed at 17,670 points, down 296 points. The HS technology index closed at 4,055 points, down 42 points. The main board's trading volume for the whole day was HK$89.6 billion. 

The US stock market's gains shrank sharply the last night, and finally closed steadily, reflecting that the market's longing for interest rates to peak has been reflected to a certain extent. In addition, although the mainland has stepped up its efforts to support the stock market, there is still no major good news in the short term. Hong Kong stocks have rebounded from lows in recent days, but there is obvious resistance when it rises to 18,000 points, and it is still subject to the resistance of the large downward trajectory channel from the beginning of the year to about 19,000 points. It is expected that there will be insufficient upward momentum in the market outlook, and the current market capitalization rate is limited. 

European stock markets were generally weak, dragged down by energy stocks. British and French stocks fell 0.1% and 0.39% respectively, while German stocks edged up 0.11%. 

The remarks by European and American central bank officials caused the market to re-evaluate the outlook for interest rates. U.S. stocks had mixed performances on Tuesday, with the Dow Jones Industrial Average falling first and then stabilizing, and both the Dow Jones Industrial Average and the S&P 500 Index rising for seven consecutive trading days. After the Dow opened 20 points lower, the decline once extended to 69 points, reaching a low of 34,026 points. Later, it rose by up to 111 points, reaching a high of 34,206 points. It still closed up 56 points, at 34,152 points; the S&P 500 also rebounded by 12 points, at 34,152 points. 4,378 points; the Nasdaq Composite Index, which is dominated by technology stocks, rose 121 points to 13,639 points.