Investment 28/5/2024

After opening 2 points lower at 18,606 points, the Hang Seng Index once fell 104 points to 18,504 points. It then resumed its upward trend and rose as much as 262 points to 18,871 points. It closed up 218 points or 1.17% to 18,827 points, ending four consecutive losses trend.  The technology index rose 65 points or 1.71% to 3,864 points. Main board transaction volume was HK$118.8 billion. 


The flow of funds from China into the Hong Kong stock market has slowed down recently, and it is expected that the market may need to consolidate first. The Hang Seng Index rose from 16,000 points to about 19,700 points earlier. The RSI on the 14th has reached the overbought level. If calculated by the golden ratio, the current rise will be 0.382 times retracement. The index may test the support of 18,300 points. If it is 0.5 Calculated by 20% of the gains, the Hang Seng Index may have a chance to test the 17,900-point level. As for whether the Hong Kong stock market can continue to rise after consolidation, we need to pay attention to whether large blue chips will continue to have capital inflows. As an opportunity for the market to counterattack, the short-term rebound resistance of the Hang Seng Index is at 19,300 points. 


Monday is Memorial Day in the United States, and U.S. stocks are closed for the day. Trading in the British stock market was also suspended due to the spring bank holiday, and global financial markets were quiet. European stock markets held steady, with French and German stock markets both closing more than 0.4% higher.


 

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Investment 24/4/2026

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