Investment 19/4/2024

The Hang Seng Index opened 1 point higher at 16,253 points, then slightly returned to the 16,200 point level before resuming its upward trend, reaching a high of 16,500 points, rising 134 points or 0.82% for the whole day to 16,385 points; the Technology Index rose 16 points or 0.49% , reported 3,356 points. Main board turnover was HK$95.2 billion. 


The U.S. job market and inflation data continue to be strong, investors' expectations for an interest rate cut by the Federal Reserve have significantly cooled, and the 10-year bond interest rate has returned to 4%, which will inevitably have an impact on the stock market. However, the mainland stock market is rebounding, and the Hong Kong stock market seems to have found support at the 16,000 level after a round of adjustments. However, unless the direction of interest rates becomes clearer, it will be difficult to regain the 17,000 level. Recently, there are signs of funds changing horses from high-valued technology stocks. The atmosphere is favorable for Hong Kong stocks with relatively low valuations, but it is difficult to assess how much stimulus it will actually bring. 


European stock markets stabilized, with British and German stocks closing around 0.4% higher, while French stocks rose 0.52%. 


The U.S. employment data was solid, which was good for the overall market sentiment. U.S. stocks developed individually on Thursday. After the Dow opened 93 points higher, the increase once expanded to a maximum of 330 points, reaching 38,083 points. It fell 71 points in the middle, reaching a low of 3,7681 points. It closed at 37,775 points, up slightly by 22 points or 0.06%; the S&P Index fell 11 points or 0.22% to close at 5,011 points, marking the fifth consecutive day of losses; the Nasdaq, which is dominated by technology stocks, fell 81 points or 0.52%. , closing at 15,601 points. 


The US dollar index rose by up to 0.22% to 106.18; the yen once rose above 154 per dollar, reaching a high of 153.96, up 0.28%, but then weakened again; the euro once fell 0.28% to US$1.0643.

 

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