Investment 6/5/2024

The RMB strengthened, and the rise of Hong Kong stocks continued. After the Hang Seng Index opened 336 points higher at 18,543 points, the gain once expanded to 397 points. Later, the selling pressure gradually increased, and the whole-day rise rebounded to 268 points or 1.47%, to 18,475 points, recording a ninth consecutive rise, with a cumulative gain of 2,251 points during the period. points or 13.87%; the technology index once reached the 4,000-point mark, reaching a high of 4,023 points, and closed up 105 points, or 2.73%, at 3,971 points. Main board transaction volume was HK$116.1 billion. 

The market began to recover from the low of 16,044 points on April 19. With the continuous promotion of stabilization funds, the Hang Seng Index successfully crossed the 250-DMA (17,688). On Friday, it reached 18,604 points, the highest level since September last year. In the short term, The target can be as high as 18,747 points first. In addition, the mid-term rebound of the market since January 22 has now entered its 14th week. Therefore, whether the market's upward trend can continue depends on the attitude of funds entering the market. The Hong Kong stock market is overbought. In addition, after the May Day holiday in the Mainland, the Hong Kong Stock Connect will reopen today. It is not ruled out that Chinese investors will take profits after the nine-day consecutive rise in Hong Kong stocks. Therefore, the Hang Seng Index may adjust today. As long as it does not fall initially Crossing the 250-DMA, the market fundamentals are still improving. 

European stock markets performed well, with British, French and German stocks rising 0.51%, 0.54% and 0.59% respectively. 

There were 175,000 new jobs in the United States in April, the slowest growth rate in half a year. Expectations for the Federal Reserve to cut interest rates increased again. U.S. stocks rose significantly on Friday. After the Dow opened 483 points higher, the increase expanded to a maximum of 582 points, reaching a high of 38,808 points. The S&P 500 once rose 1.48%, and the Nasdaq once rose 2.3%. 

At the close of the U.S. market, the Dow still rose 450 points, or 1.18%, to 38,675 points; the S&P 500 rose 63 points, or 1.26%, to 5127 points; the Nasdaq soared 315 points, or 1.99%, to 16,156 points. 

The U.S. exchange rate index once plummeted 0.74% to 104.52; the Euro once rose 0.85% to $1.0812, and the yen rose above 152 per dollar, reaching a high of 151.86, with a maximum rebound of 1.16%.