Investment 24/6/2024

After the Hang Seng Index opened 136 points lower at 18,199 points, the decline once expanded to 366 points, reaching a low of 17,968 points. It fell 306 points or 1.67% for the whole day to 18,028 points. It rose 86 points or 0.48% for the whole week; the technology index fell 66 points. or 1.76%, at 3,701 points. Main board turnover was HK$129 billion. 


The US dollar trend was stronger and the RMB exchange rate weakened, which was unfavorable for the Chinese and Hong Kong stock markets. In addition, mainland property sales have not improved significantly, and the market is worried about the mainland's economic recovery, which has also dragged down the market performance. However, individual stocks with high interest rates and high earnings visibility still support the market, and the room for decline in the market outlook is limited. The Hang Seng Index is expected to fluctuate between 17,800 and 18,500 points in the short term, but it will be difficult to regain 19,000 points. 


Weak economic data weighed on European stocks, with British, French and German stocks falling 0.42%, 0.56% and 0.5% respectively.


 Friday (21st) for U.S. stocks is the "Fourth Settlement Day" (Four Witching Day), which is the settlement day for futures and options on indexes and individual stocks. The total value of expiring contracts is estimated to reach US$5.5 trillion, and the market performance has been volatile in a narrow range. and develop individually. After the Dow opened 73 points higher, it rose as much as 122 points to a high of 39,257 points, and then fell 73 points to a low of 39,061 points; the S&P 500 once fell 0.39%, and the Nasdaq fell 0.57% at most.


 At the close of the U.S. stock market, the Dow Jones Industrial Average rose 15 points, or 0.04%, to 39,150 points; the S&P Index fell 8 points, or 0.16%, to 5,464 points; and the Nasdaq Composite fell 32 points, or 0.18%, to 17,689 points. For the whole week, the Dow rose 1.45%, the S&P gained 0.61%, and the Nasdaq was flat. 


The U.S. dollar index rose as much as 0.31% to 105.92; the euro fell 0.29% to $1.0671, and the yen once fell 0.47% to 159.67 per dollar.

 

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