Investment 30/4/2024

On the futures settlement day, Hong Kong stocks continued their upward trend last week. After the Hang Seng Index opened 86 points higher at 17,737 points, the increase once expanded to 380 points, reaching a high of 18,031 points, once again setting a new high for the new year. The upward trend resumed in the afternoon, rising 95 points or 0.54% to 17,746 points, rising for 6 consecutive transactions. On the day, the technology index underperformed, falling 4 points or 0.13% to 3,713 points. Main board transaction volume reached HK$163.4 billion.

 Since the cumulative gains have been large, there will inevitably be some pressure to take the short-term, but as the technical indicators are still improving, if the Hang Seng Index can hold firmly at 17,200 points, the market outlook will still be upward. 

Based on the Hang Seng Index's low of 14,794 points this year, the market once rose by more than 20%. It was also the first time since August last year that it regained the 250-DMA (17,708) that divides bulls and bears. In theory, it can be said to have entered a technical bull market.

 If the market outlook is certain that the Hang Seng Index will rise above the 18,000 mark, it is expected to further challenge the 18,300 mark at the top of the upward channel extending from the end of January before making a larger downward adjustment. If the increase is measured by rising above the head-and-shoulders bottom-neckline (16,800), the midline target of the Hang Seng Index can be seen at 19,650. 

The U.S. stock market has fluctuated at high levels recently, but its impact on Hong Kong stocks has been limited, and the market's transactions and trends have continued to improve. This is mainly because the valuation of Hong Kong stocks is still low, which is expected to attract new capital inflows. In addition, the trend of heavy technology stocks has improved, which is believed to support the market. Continue up and down. However, Beishui has a holiday in the middle of this week, and the upward momentum of the market may weaken. Investors who do not hold stocks can wait for adjustments before entering the market.

 European stock markets developed individually, with British stocks rising slightly by 0.09%, while French and German stocks fell by 0.29% and 0.24% respectively.

 The U.S. Federal Reserve held a two-day interest rate meeting on Tuesday. Investors maintained a cautious attitude. U.S. stocks rose repeatedly on Monday. After the Dow opened 42 points higher, the increase once expanded to 166 points, reaching a high of 38,406 points. It turned around at the end. It fell 24 points, reaching a low of 38,215 points; the S&P 500 rose as much as 0.46%, and the Nasdaq once rose 0.59%. The Nasdaq and S&P 100 also fell slightly during the session. 

At the close of the U.S. stock market, the Dow Jones Industrial Average rose 146 points, or 0.38%, to 38,386 points; the S&P Index rose 16 points, or 0.32%, to 5,116 points; and the Nasdaq gained 55 points, or 0.35%, to 15,983 points. 

The U.S. dollar index weakened, falling 0.45% to 105.46; the Japanese yen once fell below 160 per dollar during the Asian session, and then rose, rising by up to 2.41% to 154.53 per dollar. The Euro rose as much as 0.4%, reaching a high of $1.0736.