Investment 22/12/2023

Hong Kong stocks fell below 16,500 points in the early morning and found support. The Hang Seng Index rebounded in the afternoon and closed at 16,621 points, up 7 points or 0.04%. The state-owned enterprise index closed at 5,619 points, up 7 points or 0.13%; the technology index closed at 3,710 points, down 16 points or 0.44%. As the long holiday approaches, investors are busy buying and selling, with the main board's full-day trading volume shrinking to HK$69.5 billion, the quietest since November 1.


 Hong Kong stocks have recently failed to follow external market conditions and have mainly been hovering at low levels, reflecting that the market still has doubts about the prospects of the mainland economy and companies. In addition, the long holiday is approaching, when the North Water will be suspended, the transaction volume will be sluggish, and it will be difficult for Hong Kong stocks to make a breakthrough in the short term. The Hang Seng Index is expected to have some support at 16,000 points and resistance at 17,000 points. 


European stock markets came under pressure, with British and German stocks falling 0.27% and French stocks falling 0.16%. 


The Dow suddenly plunged 475 points at the end of Wednesday. The market showed excessive selling. Brokerage firm Citigroup immediately called for buying at the low price. U.S. stocks rebounded significantly on Thursday. After the Dow opened 143 points higher, the increase immediately expanded to more than 300 points. At one point, the gains narrowed to 45 points, reaching a low of 37,127 points. At the end of the day, it rebounded to a day high of 37,418 points, climbing 336 points; the S&P 500 index rose by 1.07%; the Nasdaq, which is dominated by technology stocks, rose by up to 1.31%.


 At the close of the U.S. market, the Dow still rose 322 points, or 0.87%, to 37,404 points; the S&P 500 rose 48 points, or 1.03%, to 4,746 points; the Nasdaq rose 185 points, or 1.26%, to 14,963 points.


 The U.S. dollar index fell up to 0.58% to 101.812; the euro rose 0.55% to $1.1002; the yen rose 1.06% to 142.05 per dollar; the Australian dollar rose 1.05% to 68.02 cents. 

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