Investment 10/4/2024

After the Hang Seng Index opened 86 points higher at 16,819 points, the increase once expanded to 274 points, reaching a high of 17,006 points. Later, the upward trend rebounded, rising 95 points or 0.56% to 16,828 points for the whole day; the technology index rose 33 points or 0.97%. It was quoted at 3,478 points. Main board transaction volume was HK$82.9 billion.

 The rise in Hong Kong stocks is mainly due to the market's longing for the mainland's economic recovery. The mainland's inflation data has been improving recently. The mainland will release the Consumer Price Index (CPI) for March this Thursday. In addition, the mainland has approved another online game, which has made the atmosphere for new economy platform stocks somewhat uncertain. Get better. The short-term resistance level is the year's high of 17,200, and the support level is 16,200.

 Investors awaited the U.S. inflation data to be released later this week, and U.S. stocks showed mixed results overnight. Market expectations for the Federal Reserve to delay an interest rate cut this year have recently increased, and global stock markets have weakened, but the impact on Hong Kong stocks is expected to be limited. It is believed that it is likely to break through the 17,300 resistance level from the end of April to the beginning of May and is expected to continue to move upward. It is not appropriate to be overly bearish yet. 

European stock markets came under pressure, with British, French and German stocks falling 0.11%, 0.86% and 1.32% respectively. 

On the eve of the release of U.S. inflation data, U.S. stocks performed individually on Tuesday. After the Dow opened 90 points higher, the increase slightly expanded to 100 points, reaching a high of 38,992 points, and then turned downward, once falling 320 points to a low of 38,572 points. It closed almost Recovering all lost ground; the S&P 500 and Nasdaq Composite Index have repeatedly stabilized, with the S&P 500 Index falling at most 0.8%; the Nasdaq Index, which is dominated by technology stocks, once fell 0.69%. 

At the close of the U.S. stock market, the Dow Jones Industrial Average fell slightly by 9 points, or 0.02%, to 38,883 points; the S&P 500 index rose 7 points, or 0.14%, to 5,209 points; the Nasdaq rebounded 52 points, or 0.32%, to 16,306 points.

 Ha, head of stock market strategy at Wells Fargo Chris Harvey raised the S&P 500 index's target for the end of this year from 4,625 points to 5,535 points, which means there is about 6% room for growth. 

The U.S. dollar index fell as much as 0.25% to 103.88, the Euro rose by 0.24% to $1.0885, and the Japanese yen rose by as much as 0.16% to 151.57 per dollar.