Investment 8/2/2024

Hong Kong stocks rose first and then fell. The Hang Seng Index opened 145 points higher and rose as much as 271 points. It reached a high of 16,408 points before turning back. It fell 101 points in late trading and closed at 16,081 points, down 54 points or 0.34%. The technology index closed at 3,190 points, down 53 points or 1.64%. The main board's total trading volume for the whole day was HK$103.6 billion. 


The technical trend of the Hang Seng Index seems to be improving, and it has now returned to the central axis of the Bollinger Channel. There is a chance that the Hang Seng Index will rise or fall in the range of 15,000 to 16,500 points in the short term. We still need to pay attention to two major factors in the market outlook. Once the Shanghai Composite Index falls below 2,700 points again, the mainland may increase its efforts to rescue the market. In addition, it is not advisable to lose the 20-DMA (15,754) of HSI. If it loses, it means that the trend will turn negative again. 


European stock markets retreated, with British, French and German stocks falling 0.68%, 0.36% and 0.65% respectively. 


Technology stocks stabilized, and U.S. stocks performed well on Wednesday. After opening 92 points higher, the Dow Jones Industrial Average once expanded to 226 points to close at 38,748 points, closing at a record high. The S&P 500 index rose 0.92%, reaching a high of 4,999 points, breaking its top and closing at the same time. New high; the Nasdaq, which is dominated by technology stocks, rose as much as 1.04%.


 At the close of the U.S. stock market, the Dow Jones Industrial Average rose 156 points, or 0.4%, to 38,677 points; the S&P Index rose 40 points, or 0.82%, to 4,995 points; and the Nasdaq Composite rose 147 points, or 0.95%, to 15,756 points.


 The U.S. dollar index continued to fall by as much as 0.26% to 103.941; the yen once fell by 0.22% to a low of 148.26 per dollar. The euro rose 0.18% to $1.0775. Sterling rose 0.24% to $1.2629

 

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Investment 24/4/2026

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