Investment 19/3/22024

The Hang Seng Index opened 30 points lower at 16,690 points and maintained a narrow range. The whole-day fluctuation was only 160 points. It rose slightly by 16 points or 0.09% to close at 16,737 points, ending three consecutive trading days of decline; the technology index closed at 3,594 points. , up 44 points or 1.25%. Main board turnover was HK$95.7 billion. 

The mainland's fixed asset investment, industrial production, and retail sales data from January to February this year were all better than expected, reflecting rising economic activity. The mainland stock market is also gradually improving, which will have a positive impact on Hong Kong stocks. In addition, the results of the U.S. Federal Reserve and Bank of Japan's interest rate discussions will also be released this week. Currently, there are signs of recovery in Hong Kong stock capital inflows, but the market still needs time to wait and see the outcome of the interest rate discussions. The initial support of the Hang Seng Index is expected to be at the 100-DMA (16,615). If it is dragged down by corporate performance this week, there is a chance to test the 50-DMA (16,165), but the mid-line has a chance to reach 17,300 points. 

European stock markets came under pressure, with British, French and German stock markets falling 0.06%, 0.2% and 0.02% respectively. 

Entering the super interest rate meeting week of global central banks, large technology stocks performed well before the Federal Reserve's interest rate meeting. U.S. stocks stabilized on Monday. After the Dow opened 112 points higher, the increase once expanded to 183 points, reaching a maximum of 38,898 points; the S&P 100 once rose. 1.14%, and the Nasdaq, which is dominated by technology stocks, rebounded at most 1.72%. 

At the close of the U.S. stock market, the Dow rose 75 points, or 0.2%, to 38,790 points; the S&P 500 rose 32 points, or 0.63%, to 5,149 points; and the Nasdaq rose 130 points, or 0.82%, to 16,103 points. 

The U.S. exchange rate index continued its strength last week, rising 0.21% to 103.65. Before the Bank of Japan announced the results of its interest rate meeting, the yen fell by up to 0.19% to 149.33 per dollar; the pound sterling once fell 0.13% to as low as $1.2719. 

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