Investment 3/1/2024

Hong Kong stocks rose first and then recovered on the first trading day of 2024, closing below 17,000 points. The Hang Seng Index opened 87 points higher at 17,135 points and briefly reached an intraday high. Then it quickly turned lower, falling as much as 322 points to 16,725 points. It fell 258 points or 1.52% for the whole day to 16,788 points; the Technology Index fell 49 points or 1.32%. It was quoted at 3,714 points. Main board turnover was HK$76.6 billion. 

The market is looking forward to the U.S. Federal Reserve cutting interest rates this year, but related factors may have been reflected in the performance of U.S. stocks to a certain extent. In addition, Hong Kong stocks have not benefited much, and the mainland's economic momentum is lacking. The market is conservative in the economic prospects of China and Hong Kong, and funds The attitude towards entering the market is cautious, and Hong Kong stocks are still hovering at low levels. Although the current valuation of the Hong Kong stock market is attractive and there are expectations of a "January market", the Hang Seng Index has not yet risen above and stabilized the 17,000 level. It is hard to say that the trend has bottomed out and rebounded, and it is not time to catch the bottom.

 The U.S. dollar index rose as much as 0.87% to 102.21, the euro fell 0.94% to $1.0941, and the yen once fell 0.94% to 142.21 per dollar. Since Japan is still on holiday, the currency market was quiet.

 At the beginning of the new year, European stocks developed individually, with British and French stocks falling 0.15% and 0.16% respectively, while German stocks edged up 0.11%. 

Global bond interest rates have risen, and U.S. stocks have had a bad start on the first trading day of 2024. 

After the Dow opened 123 points lower, the decline once expanded to a maximum of 193 points, reaching a low of 37,495 points. In the middle, it recovered its losses and rose 100 points, reaching a high of 37,790 points, setting a new high in the market. The S&P 500 once fell 0.99%, and the Nasdaq once fell sharply 2.19%. 

At the close of the U.S. stock market, the Dow Jones Industrial Average rose 25 points, or 0.07%, to 37,715 points; the S&P Index fell 27 points, or 0.57%, to 4,742 points; the Nasdaq fell 245 points, or 1.63%, to 14,765 points, the worst since October last year. Single day performance.