Investment 29/5/2024

Hong Kong stocks are so weak. The Hang Seng Index opened 13 points lower at 18,814 points. It rose 173 points in the early morning and touched the 19,000 point mark. It may have been in a stalemate in the afternoon. It once turned down 51 points to 18,776 points and closed at 18,821 points for the whole day, down 6 points or 0.03%; The technology index fell 9 points, or 0.25%, to 3,854 points. Main board turnover shrank to HK$97.7 billion. 

The U.S. stock market was closed on Monday, and the market continued to focus on the U.S. PCE inflation data released later this week. However, investors have digested the news about the direction of interest rates to a certain extent, and U.S. stock market fluctuations are expected to be limited. As for the Hong Kong stock market, which is not affected much by the external environment, the Hang Seng Index rose from about 16,000 points last month to a high of 19,700 points last week. Although there has been an adjustment recently and the trading volume has also weakened, which reflects that the selling pressure is not great, the technical trend of the index has weakened. It is expected that the resistance of 19,650 will be very strong in the short term. There is little chance of testing the 20,000 level, and there is a chance to retest the 18,300 level. Investors It’s better to take advantage of the rebound to lose weight. 

European stock markets fell across the board, with British, French and German stocks falling 0.76%, 0.92% and 0.52% respectively. 

U.S. stocks resumed trading after the holiday on Tuesday and began to implement "T+1" settlement. The three major indexes developed individually. After the Dow opened 40 points lower, the decline expanded to 363 points in the late period, reaching a low of 38,706 points. It still closed down 216 points or 0.55%, reported at 38,852 points. The S&P 500 index edged up 1 point, or 0.02%, to close at 5,306 points. The Nasdaq, which is dominated by technology stocks, rose as much as 0.66% to a record high of 17,032 points. It still rebounded 99 points or 0.59% to close at 17,019 points. Stimulated by Nvidia's 7% rise, the Nasdaq broke through the 17,000 level for the first time, setting a new closing record high with Nvidia. 

The U.S. dollar index fell 0.25% to 104.335; the Euro rose 0.3% to $1.0892. The yen fell repeatedly by 0.19% to 157.19 per dollar. The yen fell back to its lowest level against the pound since August 2008. The pound reached a high of 200.66 yen, up 0.16%.