Investment 13/6/2024

After opening 143 points lower at 18,032 points, the Hang Seng Index once fell 327 points to 17,848 points, and closed down 238 points, or 1.31%, at 17,937 points; the Technology Index fell 64 points, or 1.7%, to 3,691 points. Main board transaction volume was HK$115.1 billion. 


The latest economic data released by the Mainland is not far behind expectations and is expected to have limited impact on market conditions. However, it is worth noting that the latest CBBC street commodity distribution map shows that the current CBBC street commodity heavy cargo area is in the range of 17,600 to 17,999 points. Therefore, it is expected that large investors will push the index downward to slaughter cattle. There is a high chance that the Hang Seng Index will test the 250-DMA (17,609). Investors should not rush to buy. 


European stock markets rose across the board, with British, French and German stocks rising by 0.83%, 0.97% and 1.42% respectively. 


Before the outcome of the U.S. Federal Reserve's interest rate meeting, the latest data showed signs of cooling in U.S. inflation, which stimulated U.S. stocks to perform well in the early stages. After the Dow opened 203 points higher, the increase expanded to 372 points, reaching a high of 39,120 points; the S&P 500 continued to seek its top. It once rose 1.34% to 5,447 points; the Nasdaq also broke through the top, rising up to 2.2% to 17,725 points. The results of the interest rate discussion were announced, and interest rates continued to remain unchanged, but the interest rate dot plot predicted only one interest rate cut this year, two fewer than the three expected at the March interest rate meeting. The news dragged down the Dow Jones Industrial Average, and all gains of more than 370 points evaporated; driven by the surge in leading technology stocks, the S&P 500 and Nasdaq Composite Index, although their gains narrowed slightly, were still able to hit record closing highs. Among them, the Nasdaq Composite Index jumped It was more than 1.5% higher, and the S&P 500 index exceeded 5,400 points for the first time in history.


 At the close of the U.S. market, the Dow retreated 35 points, or 0.09%, to 38,712 points; the S&P 500 index's gain narrowed to 45 points, or 0.85%, to 5,421 points; the Nasdaq still rose 264 points, or 1.53%, to 17,608 points. 


The U.S. dollar index fell as much as 0.92% to 104.257; the euro rose 1.05% to $1.0854; the yen rose 0.9% to 155.72 per dollar.

 

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