Investment 9/1/2024

The Hang Seng Index rebounded weakly after opening higher and fell 390 points to a low of 16,144 points. It closed at 16,224 points, down 310 points or 1.88%. The technology index closed at 3,484 points, down 107 points or 2.99%, hitting its lowest level in more than a year. The main board's total daily turnover was HK$84.4 billion. 

Hong Kong stocks have already fallen for 5 days since 2024, with the Hang Seng Index falling 822 points or 4.82%, setting the longest early-year decline since 1998! Yesterday it fell below the previous week's low of 16,439 points. Unless it can hold the 16,000 mark today and return to the 17,000 level in the market outlook, the wave-lower trend will continue. After falling below the previous low of 15,972 points, there is a chance that it will fall back to the pre-return level (15,196), and may even test last year's low of 14,597 points again, which means that the Hong Kong stock market will regain its price-to-earnings ratio of 7.3 times. 

The bankruptcy liquidation application of Zhongzhi Group, a large Chinese asset management company, was accepted by the Beijing court, triggering market concerns about a chain reaction in the financial market and shaking up the stock markets in China and Hong Kong. The Hang Seng Index and the Shanghai Composite Index both fell by more than 1 on Monday. Hong Kong stocks have recently suffered from a lack of good news. , a breakthrough will only be expected after more policies are introduced in the mainland or there is a clear direction in the U.S. interest rate stance. 

European stock markets closed better, with British stocks rebounding by 0.06%, French and German stocks rising by 0.4% and 0.74% respectively. 

A door of a Boeing 737 MAX 9 aircraft fell off last Friday. The stock price of the manufacturer Boeing plunged 9% at the opening of the market on Monday. It still fell 8% at the end of the day, making it the worst-performing Dow component stock. The stock price of heavyweight Boeing Co. was dragged down by a sharp drop. The Dow Jones Industrial Average was under pressure for a time on Monday. The Dow Jones Industrial Average opened 138 points lower. The decline once extended to 216 points and reached a low of 37,249 points. After that, it gained ground at the low level, with all three major indexes closing at close to 37,249 points. The market closed at a high level throughout the day.

 At the close of the U.S. stock market, the Dow Jones Industrial Average rose 216 points, or 0.58%, to 37,683 points; the S&P Index rose 66 points, 1.41%, to 4,763 points; and the Nasdaq Composite rose 319 points, or 2.2%, to 14,843 points.

 The U.S. dollar index once fell 0.33% to 102.075, and the yen rose 0.67% to 143.66 per dollar. The Euro rose as much as 0.33% to $1.0979.