Investment 18/6/2024

After the Mainland released heavy economic data, Hong Kong stocks showed a mixed pattern, with little change at the close. After the Hang Seng Index opened 92 points lower at 17,848 points, it once fell 188 points to a low of 17,752 points. Later, it found support and rose 181 points to 18,122 points. However, selling pressure at the high level gradually increased, and finally closed down 5 points or 0.03 points for the whole day. %, reported at 17,936 points; the technology index rose 1 point, or 0.04%, reported at 3,709 points. Main board turnover was HK$96.3 billion.

 The latest economic data released by the mainland are mixed, and the market is concerned about whether the mainland will continue to introduce measures to stimulate the economy and support Hong Kong stocks. In terms of trend, the Hang Seng Index stocks have suffered a lot of short-term losses, and the 250-DMA (17,594) is supported below. To confirm that the adjustment is completed, it must break above 18,800 points. We should pay attention to the U.S. interest rate and the trend of the U.S. dollar. If the U.S. dollar drops to test the 103 level again, it is expected to bring rebound opportunities for Hong Kong stocks.

 European stock markets developed individually. French stocks closed up 0.91%. Local far-right leader Marine Le Pen pledged to cooperate with President Macron to ease market uneasiness. German stocks rose 0.37%, while British stocks fell slightly. 0.06%.

 The uneasiness caused by the political crisis in France has eased, and U.S. stocks have repeatedly stabilized on Monday. After the Dow opened 23 points lower, the decline extended to a maximum of 157 points, reaching a low of 38,431 points. However, it quickly recovered its losses and once rose by 250 points in the end. It reached a high of 38,839 points; the S&P 500 and the Nasdaq both broke through the intraday peak, climbing up to 1.05% and 1.4% respectively, reaching a high of 5,488 points and 17,935 points, and both closed at record highs.

 At the close of U.S. stocks, the Dow Jones Industrial Average rose 188 points, or 0.49%, to 38,778 points; the S&P Index rose 41 points, or 0.77%, to 5,473 points; the Nasdaq Composite, which is dominated by technology stocks, rebounded 168 points, or 0.95%, to 17,857 points.

 The U.S. exchange rate index fell as much as 0.23% to 105.31; the Japanese yen fell 0.37%, hitting a low of 157.97 per dollar; the Euro stabilized, rising 0.34% to $1.0741.