Investment 11/12/2023

The Hang Seng Index rose over 100 points in the early morning and then fell by nearly 100 points. However, it found support when it fell to 16,249 points. It rebounded in the afternoon and closed at 16,334 points, down 11 points or 0.07%; the Technology Index closed at 3,705 points. , down 14 points or 0.38%. The main board's total daily turnover was HK$88.3 billion.

 Hong Kong stocks fell below a one-year low this week, with the Hang Seng Index falling 495 points, or 2.94%, for the week; the HS Tech index fell 125 points, or 3.26%. 

Last week, the HSI show big black candlestick and fell below 16,800, setting a new low this year. Most of the large rising gap (16,138 to 16,829) in November last year has been replenished. In the last two trading days of last week, "hammer head" and "spinning top" appeared at the low level. ”, and is seriously oversold, which is favorable for a short-term rebound, but the 10-DMA (16,786) is expected to have considerable resistance. The mid-line is still bearish. If it falls below the psychological mark of 16,000 points, the recent horizontal trend zone, the mid-line decline target is the return to the 97-handover level (15,196), which may once again test last year's low of 14,597 points, which means that the Hong Kong stock market has regained its price-to-earnings ratio of 7.3 times. Moody's has lowered the outlook for Hong Kong's rating, and many popular stocks have also plummeted, which will definitely affect the investment sentiment in Hong Kong stocks.

 The decline in the US dollar exchange rate further intensified, with the US dollar exchange rate index falling as low as 102.47 last Friday, hitting a more than three-month low. The central parity rate of the RMB was reported at 7.1031 per US dollar, rising for two consecutive years and reaching the highest level in the past six months since June 6 this year. The yen is also strong, and the exchange rate may rise above 130. If the Bank of Japan implements monetary tightening policy more quickly and strongly, the yen may rise to the 120 level. 

European stock markets performed well, with British, French and German stocks closing up 0.54%, 1.32% and 0.78% respectively. 

The number of non-agricultural jobs in the United States increased by 199,000 in November, which was better than the expected 180,000; the unemployment rate was 3.7%, which was also better than the expected 3.9%. The data was surprising. At the same time, the latest consumer inflation expectations dropped sharply, strengthening the market's confidence in the economy. Confidence in a soft landing reduces market expectations for interest rate cuts. U.S. stocks had mixed performances on Friday, with the Dow Jones Industrial Average rising 178 points after opening 32 points lower and reaching a high of 36,296 points; the S&P 500 rose 0.52%, hitting 4,609 points; the Nasdaq turned around and rose as much as 0.54%. 

At the close of trading in New York, the Dow's gain shrank to 130 points, or 0.36%, to 36,247 points; the S&P 500 jumped 18 points, or 0.41%, to 4,604 points, with a cumulative gain of 19.9% so far this year, rising to its highest level since March last year; the Nasdaq rose 63 points points or 0.45%, reported at 14,403 points.