Investment 12/6/2024

The RMB weakened, and Hong Kong stocks were softer when they resumed trading after the holidays. After opening 203 points lower at 18,163 points, the Hang Seng Index once extended its decline to 372 points, reaching a low of 17,994 points. It fell 190 points, or 1.03%, to 18,176 points throughout the day; the Technology Index fell 17 points, or 0.45%, to 3,755 points. Main board transaction volume was HK$139.8 billion. 

The Hong Kong stock market has previously confirmed that it has bottomed out. The pullback after this rebound may be a buying opportunity. It is expected that the Hang Seng Index will have good support at the 250-DMA (17,614), and it will gradually accumulate heavyweight stocks or technology stocks, and there may be some gains before the end of the year.

 European stock markets fell across the board, with British, French and German stocks falling 0.98%, 1.33% and 0.68% respectively.

 As the U.S. Federal Reserve holds an interest rate meeting, worries about political instability in Europe further troubled the market. U.S. stocks were under pressure on Tuesday amid a sell-off in bank stocks. The Dow opened 72 points lower and then fell 421 points to a low of 38,446 points; After falling 0.63% and the Nasdaq Composite Index falling 0.49%, it turned higher together with the S&P Index and continued to hit a new closing high, mainly because Apple drove the technology sector to a record high; the Dow Jones Industrial Average narrowed its decline. 

U.S. stocks closed, with the Dow Jones Industrial Average narrowing its decline to 120 points, or 0.31%, to 38,747 points; the S&P Index rose 14 points, or 0.27%, to 5,375 points; the technology sector rose 1.7%; the Nasdaq Index rose 151 points, or 0.88%, to 17,343 points point.

 The U.S. dollar index rose 0.29% to 105.459, the euro fell 0.42% to $1.072, and the yen fell 0.27% to 157.47 per dollar. 

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