Investment 11/1/2024

Hong Kong stocks fell for the 7th day in a row, falling 948 points, but fortunately still managed to hold the 16,000 level. The Hang Seng Index fell 151 points in the early stage, reaching a low of 16,038 points and then rose 57 points. However, it lacked elasticity and fell again in an instant. It closed at 16,097 points, down 92 points or 0.57%. The technology index closed at 3,428 points, down 26 points or 0.76%. The total transaction volume on the main board was HK$74.5 billion. 


The rebound in the U.S. 10-year bond interest rate and the filing of bankruptcy liquidation by Zhongzhi Group, one of the mainland's largest asset management companies, are both negative for the stock market. The data from the CBBC outstanding distribution map shows that the current CBBC outstanding heavy  area is between 15,900 and 15,999 points. It is believed that the market outlook has the opportunity to fall below 16,000 points, break the previous low of 15,972 points, and fall back to the pre-return level (15,196) . Although Hong Kong stocks are prone to falling in the short term but difficult to rise, many heavyweight blue-chip buybacks have supported stock prices. It is believed that there is limited room for another sharp decline before the Lunar New Year holiday.


 European stock markets developed individually, with British and French stocks falling 0.42% and 0.01% respectively, while German stocks edged up 0.01%. The Japanese stock market is so bullish. After the Nikkei Index hit a 34-year high, the more representative Topix Index also hit its highest since 1990 on Wednesday, closing up 1.3% to 2,444 points.


 The market is waiting to see the latest inflation data released by the United States on Thursday. U.S. stocks generally performed well on Wednesday. After the Dow opened 27 points higher, the gain expanded to 215 points at the end, reaching a high of 37,740 points. The S&P 500 index once rose 0.72%, mainly technology stocks. The Nasdaq rose as much as 0.95%. 


At the close of the U.S. market, the Dow still rose 170 points, or 0.45%, to 37,695 points; the S&P 500 rose 26 points, or 0.57%, to 4,783 points; the Nasdaq rose 111 points, or 10.75%, to 14,969 points. 


The U.S. dollar index once fell 0.22% to 102.34, and the Euro once rose 0.38% to $1.0975. The yen fell as much as 0.96% to 145.86 per dollar. 

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