Investment 5/1/2024

Hong Kong stocks will rebound weakly in 2024. The Hang Seng Index opened 26 points higher at 16,673 points and briefly hit an intraday high. Then it quickly turned lower. Fortunately, it fell less than 1 point for the whole day to 16,645 points, falling for the third consecutive day. The Technology Index rose 8 points or 0.23% to 3,654 points. , the main board turnover was HK$70.3 billion. 

The trend of Hong Kong stocks is still weak entering 2024. The market is paying attention to the mainland's economic performance and corporate profit prospects, and there is no sign of reversal yet. However, as the Hong Kong stock market has retreated to a certain extent, there is little chance that the Hang Seng Index will bottom out again. The 16,000-point level has good support, but it lacks upward momentum after rising above 17,000 points. It is expected to remain in a range-bound pattern. We must wait for the introduction of strong and powerful policies to restore market confidence. The central government has earlier set the tone at the Politburo meeting and the Central Economic Work Conference to pay more attention to the economy. The market is looking forward to the introduction of fiscal and monetary policies to stimulate the economy before the Lunar New Year , if it comes to pass, I believe it will be good for the market. 

European stock markets stabilized, with British, French and German stocks closing up 0.53%, 0.52% and 0.48% respectively. 

The minutes of the U.S. Federal Reserve's interest rate meeting last month showed that officials expected to cut interest rates this year, but there was no timetable for interest rate cuts. The news disappointed the market, and U.S. stocks fell overnight. However, U.S. stocks have gained a lot in the past two months, and technical adjustments are normal. U.S. stocks developed in four different ways. After opening slightly lower by 4 points, the Dow Jones Industrial Average turned around and rose as much as 286 points, reaching a high of 37,716 points. However, almost all the gains were wiped out at the close; the S&P 500 and the Nasdaq were repeatedly weak. The S&P 500 index once rose 0.47%; the Nasdaq Composite Index rose 0.47% repeatedly, and finally ended close to the day's low.

 At the close of the U.S. market, the Dow rose only 10 points, or 0.03%, to 37,440 points; the S&P 500 fell 15 points, or 0.34%, to 4,688 points; the Nasdaq fell 81 points, or 0.56%, to 14,510 points, marking its fifth consecutive decline trading day.

 The US dollar index fell 0.34% to 102.145. Germany's inflation rate in December last year was 3.8%, slightly lower than expected. The euro rose by up to 0.46% to $1.0972, and the yen once fell by 1.09% to 144.85 per dollar.