Investment 4/1/2024

Hong Kong stocks fell for two consecutive days. The Hang Seng Index opened 163 points lower at 16,624 points and then continued its decline. It once fell 223 points to a low of 16,564 points. It fell 142 points or 0.85% for the whole day to 16,646 points; the technology index underperformed, falling 68 points. or 1.84%, at 3,646 points, with main board turnover of HK$79.2 billion. 

Entering the new year, Hong Kong stocks continue to be weak. The Hang Seng Index is hovering along the central axis of the Bollinger Channel and near the 20-DMA (16,549), and trading continues to be quiet, reflecting a lack of confidence in capital entering the market and the market bottom is still weak. It is not ruled out that the Hang Seng Index will fall below the 16,000 level, and the market outlook may have a chance to fall back to the pre-return level (15,196), or even test the low of 14,597 points last year again, which means that the Hong Kong stock market will once again see a price-to-earnings ratio of 7.3 times. 

European stock markets closed lower across the board, with British, French and German stocks falling 0.51%, 1.58% and 1.38% respectively.

 The market is waiting to see the release of the minutes of the U.S. Federal Reserve's interest rate meeting last month. Some officials still do not rule out the possibility of raising interest rates. In addition, the U.S. 10-year bond interest rate once exceeded 4%. U.S. stocks came under pressure on Wednesday. The Dow opened 85 points lower and then reversed. Downward, it once fell 308 points. After the interest rate meeting minutes were announced, the decline deepened to 313 points, reaching a low of 37,401 points. The S&P 500 index fell by as much as 0.91%, and the Nasdaq once plunged 1.28%. 

At the close of the U.S. stock market, the Dow still fell 284 points, or 0.76%, to 37,430 points; the S&P 500 fell 38 points, or 0.8%, to 4,704 points, its third consecutive day of losses; the Nasdaq fell 173 points, or 1.18%, to 14,592 points. It fell for two days in a row.

 The U.S. dollar index once rose 0.5% to 102.711, rising for four consecutive days, the longest rising wave since November last year; the euro fell 0.4% to $1.898, and the yen fell 1.23% to 143.73 per dollar. A stronger U.S. dollar put pressure on spot gold prices, which fell as low as $2,030.74 per ounce, down 1.37%.