Investment 13/5/2024

The Hang Seng Index opened 131 points higher at 18,669 points and then maintained its upward trend. It rose as much as 455 points to reach a nine-month high of 18,993 points. It closed up 425 points or 2.29% for the whole day at 18,963 points. It rose 487 points or 2.63 points for the whole week. The technology stocks lagged behind, with the technology index rising 14 points or 0.37% to 3,962 points. Main board transaction volume increased to HK$171 billion. This is the most since October 16 last year. 

Mainland China is rumored to have exempted and exempted Hong Kong Stock Connect dividend tax. This move may attract funds to pursue interest-earning stocks, such as mainland banking stocks, telecommunications stocks and oil stocks. Since the relevant sectors account for a large proportion of the Hang Seng Index, it is expected to be helpful to the market situation. 

Hong Kong stocks broke through the long-term downward trajectory from February 2021 to the present late last month, reversing the long-term weakness. The Hang Seng Index reached a low of 18,278 points and a high of 18,993 points last week. It rose 487 points in a week and had three big white candlesticks in a row, showing an overbought signal. If there is a short-term adjustment, last Friday's rising gap (18,560 to 18,657) is expected to have initial support; after adjustment, if it rises above the 19,000 mark, it will reach 19,650 points. Optimistically, the Hang Seng Index's October 2022 low and January this year's low will form a head-and-shoulders bottom pattern, with the neckline at 22,500, which can be used as a midline target. If it can rise above the neckline, the long-term ultimate target is 30,500 (?). However, the chances of achieving this goal are slim unless the international situation changes drastically. 

European stock markets hit record highs, with British, French and German stocks rising 0.63%, 0.38% and 0.46% respectively.

 U.S. consumer inflation expectations rose, and many Federal Reserve officials downplayed expectations of interest rate cuts. U.S. stocks were mixed on Friday. After the Dow opened 78 points higher, the increase expanded to a maximum of 192 points, reaching a high of 39,579 points; the S&P 500 had risen 0.49 points. %, the Nasdaq, which is dominated by technology stocks, once rose 0.56%, and then fell by up to 0.32%. 

At the close of the U.S. market, the Dow rose 125 points or 0.32% to 39,512 points, rising for eight consecutive trading days; the S&P 500 rose 8 points or 0.16% to 5,222 points; the Nasdaq fell slightly by 5 points or 0.03% to 16,340 points. 

 The US dollar index once rose 0.17% to 105.402; the yen once continued to fall 0.28% to 155.92 per dollar. Euro fell 0.2% to $1.076.The Hang Seng Index opened 131 points higher at 18,669 points and then maintained its upward trend. It rose as much as 455 points to reach a nine-month high of 18,993 points. It closed up 425 points or 2.29% for the whole day at 18,963 points. It rose 487 points or 2.63 points for the whole week. The technology stocks lagged behind, with the technology index rising 14 points or 0.37% to 3,962 points. Main board transaction volume increased to HK$171 billion. This is the most since October 16 last year. 

Mainland China is rumored to have exempted and exempted Hong Kong Stock Connect dividend tax. This move may attract funds to pursue interest-earning stocks, such as mainland banking stocks, telecommunications stocks and oil stocks. Since the relevant sectors account for a large proportion of the Hang Seng Index, it is expected to be helpful to the market situation. 

Hong Kong stocks broke through the long-term downward trajectory from February 2021 to the present late last month, reversing the long-term weakness. The Hang Seng Index reached a low of 18,278 points and a high of 18,993 points last week. It rose 487 points in a week and had three big white candlesticks in a row, showing an overbought signal. If there is a short-term adjustment, last Friday's rising gap (18,560 to 18,657) is expected to have initial support; after adjustment, if it rises above the 19,000 mark, it will reach 19,650 points. Optimistically, the Hang Seng Index's October 2022 low and January this year's low will form a head-and-shoulders bottom pattern, with the neckline at 22,500, which can be used as a midline target. If it can rise above the neckline, the long-term ultimate target is 30,500 (?). However, the chances of achieving this goal are slim unless the international situation changes drastically. 

European stock markets hit record highs, with British, French and German stocks rising 0.63%, 0.38% and 0.46% respectively.

 U.S. consumer inflation expectations rose, and many Federal Reserve officials downplayed expectations of interest rate cuts. U.S. stocks were mixed on Friday. After the Dow opened 78 points higher, the increase expanded to a maximum of 192 points, reaching a high of 39,579 points; the S&P 500 had risen 0.49 points. %, the Nasdaq, which is dominated by technology stocks, once rose 0.56%, and then fell by up to 0.32%. 

At the close of the U.S. market, the Dow rose 125 points or 0.32% to 39,512 points, rising for eight consecutive trading days; the S&P 500 rose 8 points or 0.16% to 5,222 points; the Nasdaq fell slightly by 5 points or 0.03% to 16,340 points. 

 The US dollar index once rose 0.17% to 105.402; the yen once continued to fall 0.28% to 155.92 per dollar. Euro fell 0.2% to $1.076.