Investment 24/1/2024

The Hang Seng Index soared 555 points, reaching a high of 15,516 points; it closed at 15,353 points, up 392 points or 2.62%. The technology index closed at 3,147 points, up 112 points or 3.7%. The main board's total daily turnover was HK$124 billion.


 It is rumored that the mainland is considering "pumping water" to rescue the market with RMB 2 trillion, which has stimulated a significant rebound in Hong Kong stocks. Although the Hang Seng Index has gradually risen from the low of 14,794 points the day before yesterday, it has not yet officially escaped from danger because the Hang Seng Index is still repeatedly below all moving averages. Unless the market outlook pushes up further and returns to above the 10-DMA (15,701), there will be an initial respite. Mainland economic data has not shown a significant improvement, and it is believed that Hong Kong stocks will hardly rebound in the same way. The Hang Seng Index is currently hovering above 15,000 points. It is expected that the 16,000 point level will be quite resistant, and it may always reach the October 2022 low of 14,597 points. 


The current valuation of A shares relative to U.S. stocks has fallen to an all-time low. Bloomberg quoted people familiar with the matter as saying that China is preparing to bring offshore funds, that is, funds mainly from overseas institutions, back to the mainland through Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect. This will not only boost A-shares, but also support the RMB exchange rate. It can be described as killing two birds with one stone. However, once the negative risks of stocks and exchanges resonate, it will be even worse. In fact, this is more likely to be another carnival feast for the powerful. They will use the 2 trillion to raise the price first, and then ship, unwind, and leave the market. After completing these three steps, the Chinese and Hong Kong stock markets will still test the bottom again. 


European stock markets fell across the board, with British stocks down slightly by 0.3%, and French and German stocks both closing down 0.34%. 


Performances of U.S. companies varied, but hopes that the Chinese government will push for economic stimulus measures led U.S. stocks to develop individually on Tuesday. After the Dow opened 42 points lower, the decline once extended to 196 points and hit a low of 37,804 points. The decline narrowed at the close and was still down. 96 points, or 0.25%, to 37,905 points; the S&P Index rebounded 14 points, or 0.29%, to 4,864 points; the Nasdaq, which is dominated by technology stocks, rose 65 points, or 0.43%, to 15,425 points.


 The U.S. exchange rate index once rose 0.47% to 103.82; the Japanese yen repeatedly weakened, falling 0.41% to 148.71 per dollar; the Euro fell as much as 0.62% to a low of $1.0823. 

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Investment 24/4/2026

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