Investment 23/4/2024

China Securities Regulatory Commission recommends 5 measures to strengthen cooperation with Hong Kong. The measures include: 1. Relaxing the scope of eligible products for stock exchange-traded funds (ETFs) under the Shanghai-Shenzhen-Hong Kong Stock Connect; 2. Including real estate investment trust funds (REITs) into the Shanghai-Shenzhen-Hong Kong Stock Connect; 3. Support the inclusion of RMB stock trading counters in Southbound Hong Kong; 4. Optimize mutual fund recognition arrangements; 5. Support leading mainland companies in the industry to list in Hong Kong. 


The news seems to have stimulated the Hong Kong stock market to perform well. After the Hang Seng Index opened 186 points higher at 16,410 points, the increase once expanded to 413 points, reaching a high of 16,637 points. It rose 287 points or 1.77% to 16,511 points for the whole day; the Technology Index rose 58 points or 1.77% to 3,336 points. Main board transaction volume was HK$104.9 billion.


 The Hang Seng Index retreated last week and once tested the 16,626 mark. However, as the situation in the Middle East eased, the Hang Seng Index rebounded on Monday (22nd) and once rose to the 20-DMA (16,626). However, there are still variables in the situation in the Middle East and relations between China and the United States. It is expected that the Hang Seng Index will still mainly fluctuate between 16,000 points and 17,200 points. 


European stock markets performed well, with British, French and German stock markets closing higher by 1.62%, 0.22% and 0.7% respectively. 


Tensions in the Middle East have not escalated. U.S. stocks rose repeatedly on Monday. The Dow opened 130 points higher and once fell 1 point to a low of 37,985 points. It then rose 460 points to a high of 38,447 points. The Dow Jones Industrial Average closed at a slower pace; The Nasdaq rebounded by more than 1%, and both the Nasdaq and the S&P 500 ended their losing streak in the past six trading days. The S&P 500 rose as much as 1.44%, and the Nasdaq, which is dominated by technology stocks, once rose 1.68%. 


At the close of the U.S. market, the Dow rose 253 points, or 0.67%, to 38,239 points; the S&P 500 rose 43 points, or 0.87%, to 5,010 points; the Nasdaq rose 169 points, or 1.11%, to 15,451 points. 


The U.S. dollar index rose by up to 0.24% to 106.4; the Japanese yen first rose and then retreated, once falling 0.14% to 154.85 per dollar. Mario Centeno, a member of the European Central Bank's Governing Council, said the bank may cut interest rates by more than 1% this year. The euro fell 0.3% to as low as $1.0624.

 

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Investment 24/4/2026

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