Investment 7/12/28023

Hong Kong stocks stabilized after falling for three days in a row. The Hang Seng Index fell nearly 100 points in the early hours and found support. In the afternoon, it rose 272 points to a high of 16,600 points. It closed at 16,463 points, up 135 points or 0.83%. The  technology index closed at 3,747 points, up 64 points or 1.76%. The main board's total daily turnover was HK$98.8 billion. 


Rating agency Moody's lowered the outlook for China's sovereign credit rating from "stable" to "negative" for the first time in more than seven years. The news did not cause Hong Kong stocks to plummet and is expected to have little impact on the market. As for the future trend of Hong Kong stocks, you can refer to the distribution chart of the Hang Seng Index Bull and Bear Contracts. There are still many bull contracts with call prices between 16,000 and 16,299 points. Compared with the number of futures index contracts, there are more than 2,000. This reflects that Hong Kong stocks have not yet escaped from the crisis period. The Hang Seng Index may test the 16,000 level again. The Hong Kong stock market currently faces great resistance, with the 10-DMA (17,065) being difficult to surpass. It is expected that after the Hang Seng Index repeatedly consolidates, the bottom-hunting pattern will continue, and may once again test last year's low of 14,597 points.


 European stock markets rose across the board, with British, French and German stocks rising 0.34%, 0.66% and 0.75% respectively. 


The latest data from the United States showed that the job market continued to cool, driving bond interest rates to fall. U.S. stocks first rose and then recovered on Wednesday. The Dow Jones Industrial Average rose more than 100 points and then fell modestly. Together with the S&P 500, it fell for the third consecutive day. After the Dow opened 59 points higher, the gain expanded to 168 points, reaching a maximum of 36,292 points. Later, it repeatedly fell 100 points to a low of 36,024 points; the S&P 100 rose 0.52%, and the Nasdaq rose 0.69% at most. 


At the close of the U.S. market, the Dow fell 70 points, or 0.19%, to 36,054 points; the S&P 500 fell 17 points, or 0.39%, to 4,549 points; the Nasdaq fell 83 points, or 0.58%, to 14,146 points. 

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