Investment 27/5/2024

The Hang Seng Index opened 126 points lower at 18,742 points, and then the decline once extended to 336 points, reaching a low of 18,532 points. It closed down 259 points, or 1.37%, at 18,608 points, falling for 4 consecutive trading days, and falling by 944 points or so for the whole week. 4.83%; the technology index fell 96 points or 2.48% to 3,799 points. Main board transaction volume was HK$126.7 billion. 

It is expected that the Hong Kong stock market will still see a slight rise but a sharp decline, with strong support at 18,500 points. The Hang Seng Index may return to the 20-DMA (18,633) today, and will test the 10-DMA (19,161) this week. The market is looking forward to the introduction of further rescue measures in the mainland, and paying attention to capital flows and the trend of the renminbi. Enterprising investors can choose new economy stocks, and at the same time, consider oil stocks and telecommunications stocks for income-earning allocations. It is expected that the U.S. Federal Reserve will still have a chance to cut interest rates once this September, and the trend of U.S. stocks has repeatedly favored the trend. The S&P 500 Index is targeting an upward target of 5,800 to 6,000 points before the end of this year. 

European stock markets developed individually, with British and French stocks falling 0.26% and 0.09% respectively, and German stocks rising slightly by 0.01%. 

Nvidia rose 9.32% on Friday, hitting a record high of 1,063 yuan. The stock split plan was proposed, and the price of one split to ten still reached more than 100 US dollars. The total market value reaches US$2.55 trillion. Led by technology stocks, U.S. stocks stabilized on Friday. After the Dow opened 23 points higher, the gain expanded to a maximum of 155 points, reaching a high of 39,220 points. After that, it repeatedly stayed close to the same level, and the gains almost evaporated; the S&P 500 index once rebounded by 0.83%. ; The Nasdaq rose up to 1.27%. 

At the close of the U.S. market, the Dow Jones Industrial Average rose 4 points or 0.01% to 39,069 points; the S&P 500 rose 36 points or 0.7% to 5,304 points; and the Nasdaq rose 184 points or 1.1% to 16,920 points. Last week, the Dow fell 2.33%, the S&P 500 rose 0.03%, and the Nasdaq jumped 1.41%. 

The U.S. dollar index fell as much as 0.45% to 104.64; the euro rose 0.41% to $1.086; the yen fell 0.14% to 157.15 per dollar.

 

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