Investment 5/3/2024

Hong Kong stocks remained at the 10-DMA (16,588) throughout the day. After opening 40 points higher, the Hang Seng Index once fell 115 points to 16,473 points. It rose 6 points throughout the day to 16,595 points. The technology index fell 13 points, or 0.38%, to 3,474 points. Market turnover reached HK$106.8 billion. 


The external market continues to be strong, with the U.S. S&P 500 and Nasdaq Composite Index closing at record highs last week. However, before there is a definite timetable for interest rate cuts, it is believed that the stimulation effect on Hong Kong stocks will be limited. As for the mainland stock market, which has clearly strengthened after the Lunar New Year, the Shanghai Composite Index has returned to above 3,000 points. Although the Hong Kong stock market has followed suit, it has rebounded, but there is obvious resistance near the 100-DMA (16,719). It is expected that it will need to consolidate first before it is expected to break through. It is expected to reach the 50-DMA (16,177) good defense.


 Hong Kong's property market is weak. At the request of many parties, the government announced the removal of all control policies that are unfavorable to buyers. However, this will not change the direction of falling property prices, because it depends on the general environment, interest rates and other factors. The rulers hope that in this way stimulating the property market to save the economy is a desperate move. 


The Nikkei Stock Average rose above the 40,000-point mark for the first time, reaching a high of 40,314 points. It closed up 198 points, or 0.5%, to 40,109 points for the day, setting a record high for both the market and the closing market.


 European stock markets developed individually, with British and German stocks falling 0.55% and 0.11%, while French stocks rose 0.28%. U.S. stocks consolidated at high levels. 


The Dow opened 118 points lower on Monday and fell 174 points to 38,913 points. The decline then slowed. The S&P 500 once fell 0.19%, and the Nasdaq fell as much as 0.47%.


 At the close of the U.S. stock market, the Dow Jones Industrial Average fell 97 points, or 0.25%, to 38,989 points; the S&P Index retreated 6 points, or 0.12%, to 5,130 points; the Nasdaq Composite fell 67 points, or 0.41%, to 16,207 points. 


The currency index once rose 0.1% to 103.963: There were reports that the Japanese government was considering announcing that it would defeat deflation, but the yen continued to weaken, falling 0.3% to a low of 150.57 per dollar. Ahead of the European Central Bank's interest rate meeting this week, the euro rose 0.25%, reaching a high of $1.0868. 

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Investment 24/4/2026

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