Investment 2/4/2024

Hong Kong stocks were on the last trading day in March and before the Easter holiday. U.S. stocks rose overnight. Coupled with the stabilization of the yuan, Hong Kong stocks rebounded. The Hang Seng Index opened 14 points lower at 16,378. The decline slightly expanded to 46 points, reaching a low of 16,345. It then stopped falling and rebounded. Led by technology and Internet stocks, the market rose by up to 332 points in the afternoon, reaching a high of 16,725, but sold at high levels. The market rebounded, with the Hang Seng Index closing up 148 points or 0.9% at 16,541. The tech index rose 84 points, or 2.5%, to 3,477. The market's turnover for the whole day was HK$117.2 billion. 

Market Summary The Hang Seng Index rose more than 100 points in the month, but fell 505 points or 3% in the first quarter, falling for the fourth consecutive quarter. The tech index performed worse than the Hang Seng Index, falling 7.6% in the whole quarter. During the period, North Water's net inflow exceeded $130 billion, recording net inflows for nine consecutive months, which did not help the performance of the Hong Kong stock market. 

Looking forward to the trend in the second quarter and April, we must first hold firmly to the 100-DMA (16,566 ) . Once it falls, it means that the downward bottom-seeking pattern will continue. The securities industry generally has a conservative view that the Hang Seng Index can further test the 250-DMA bull-bear dividing line (17,969). This is because foreign capital is still anchored in the strong performance of Asia-Pacific, European and American stock markets, and the phenomenon of "the strong gets stronger and the weak gets weaker" appears in disguise. 

The high price of Hong Kong stocks before the holiday last Thursday was related to the quarter-end and window dressing trading activities. Even if the transaction volume exceeded the HK$ 100 billion mark, it was still less than similar activities in the past. After the holidays, investors will wait for changes in the Federal Reserve's interest rate meeting.

 European stock markets were stable before the holidays, with British, French and German stocks rising 0.26%, 0.01% and 0.08% respectively. Europe's three major stock markets closed for the holiday on Monday. 

U.S. stocks performed sluggishly on the last trading day of the first quarter and on the eve of the Easter holiday. The three major indexes closed with mixed results. The Dow Jones Industrial Average and the S&P 500 hit record highs, while the Nasdaq was repeatedly weak. 

The latest data showed that U.S. manufacturing activity unexpectedly returned to expansion, driving up bond interest rates. U.S. stocks showed individual trends on Monday. After opening slightly higher, the Dow rose only 7 points at most, then turned around and fell 316 points, reaching a low of 39,491 points. The S&P 500 index once fell 0.48%; the Nasdaq, which is dominated by technology stocks, once rose 0.68%. Later, it fell by as much as 0.31% and closed stabilizing. 

At the close of the U.S. market, the Dow Jones Industrial Average closed at 39,566 points, down 240 points, or 0.6%; the S&P Index fell 10 points, or 0.2%, to 5,243 points; the Nasdaq rebounded 17 points, or 0.11%, to 16,396 points. 

The US dollar index once rose 0.51%, reaching a high of 105.08; the yen once fell 0.27%, reaching a low of 151.76 per dollar. 

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Investment 24/4/2026

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