Investment 12/3/2024

Hong Kong stocks failed to stabilize at 16,500 points last Friday (8th) and closed upstairs. However, the Hang Seng Index opened at 16,416 points on Monday (11th), up 62 points or 0.38%, and closed at 16,587 points for the whole day, up 234 points or 1.43%. The Hang Seng Technology Index closed at 3,482 points, up 96 points or 2.85%. The main board transaction volume exceeded HK$92.9 billion. 

The three major U.S. stock indexes all fell last Friday. Japanese stocks also fell by more than 2% on Monday, and the global investment sentiment deteriorated. However, the mainland ended four consecutive months of deflation, which boosted the performance of retail-related stocks and also supported the Hong Kong stock market to maintain its upward trend after opening higher. The market will remain positive for the rest of March. If there are surprises in corporate performance, it is expected to drive stock prices back up from lows and support the market's performance. The short-term resistance of the Hang Seng Index is at the 100-DMA (16,646). If it rises above, the trend is expected to turn around, and the 50-DMA (16,158) has certain defensive . The United States will release inflation data this week, which may have some implications for the Federal Reserve's interest rate cut schedule, which is believed to also affect the market sentiment. 

European stock markets developed individually, with British stocks rising 0.12%, French and German stocks falling 0.1% and 0.38% respectively. 

Ahead of the release of U.S. consumer price data on Tuesday, investors became increasingly cautious. U.S. stocks traded individually on Monday, with the Dow holding steady after falling more than 200 points, while the S&P 500 and Nasdaq were softer. The Dow opened 55 points lower, and the decline once expanded to 239 points, reaching a low of 38,483 points, and then repeatedly recovered lost ground; the S&P 500 once fell back 0.64%, and the Nasdaq, dominated by technology stocks, fell at most 0.67%.

 At the close of the U.S. stock market, the Dow Jones Industrial Average rose 46 points, or 0.12%, to 38,769 points; the S&P Index fell 6 points, or 0.11%, to 5,117 points; and the Nasdaq fell 65 points, or 0.41%, to 16,019 points.

 The U.S. dollar index reversed its 6-day decline and rose as much as 0.22% to 102.933; the yen once rose 0.39% to 146.49 per dollar; the Euro once fell 0.22% to $1.0915. 

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