Investment 11/6/2024

The Hang Seng Index opened 85 points higher at 18,562 points and then fell back repeatedly. It once fell 174 points to 18,302 points. It fell 109 points or 0.59% for the whole day to 18,366 points. It still rose 287 points or 1.58% for the whole week; the technology index fell 68 points. or 1.77%, at 3,772 points. The changes to the constituent stocks of the Hang Seng Index during the quarterly review took effect after the market closed, and the main board turnover was HK$133.1 billion.

 It is expected that Hong Kong stocks will continue to be bullish. Although the market is looking forward to the introduction of more supportive economic measures in the mainland, and many stocks have experienced a round of rising waves, their valuations have reached a reasonable level. It will be difficult for the market to rise again. The Hang Seng Index is expected to trade between 18,000 and 18,900 points. . 

The rise of far-right political parties in Europe may threaten the economy and government finances. European stocks are under heavy selling pressure. French stocks fell by up to 2.37%, the largest intra-market drop since July last year. They still closed down 1.35%. British and German stocks also fell by 0.2% respectively. % and 0.34%. 

The U.S. Federal Reserve began its two-day interest rate meeting on Tuesday, and European political risks surged, making investors more cautious. U.S. stocks repeatedly stabilized on Monday. After the Dow opened 14 points lower, the decline once expanded to 133 points, with the lowest reading at 38,665. points; the S&P 500 once fell 0.29%; the Nasdaq, which is dominated by technology stocks, fell as much as 0.44%.

 At the close of the U.S. stock market, the Dow Jones Industrial Average rose 69 points, or 0.18%, to 38,868 points; the S&P Index rose 13 points, or 0.26%, to 5,360 points; and the Nasdaq rose 59 points, or 0.35%, to 17,192 points.

 The U.S. 10-year bond yield rose by up to 5.2 basis points to 4.482%, and the interest rate-sensitive 2-year bond yield rose by 2.7 basis points to 4.897%. The U.S. exchange rate index once rose 0.48% to 105.385; the Euro fell 0.63% to a one-month low of $1.0733, and the Japanese yen fell as much as 0.29% to 157.2 per dollar. The collective rise of the European right wing has caused some concerns in the market, affecting the European exchange rate.