Investment 26/6/2024

After the Hang Seng Index opened 60 points higher at 18,088 points, the increase once expanded to 203 points, reaching a high of 18,231 points. It once turned from rising to falling in the afternoon, and closed up 45 points or 0.25% for the whole day at 18,072 points, ending its three consecutive declines; Technology Index It fell 22 points or 0.6% to 3,655 points. Main board transaction volume was HK$93.7 billion.

 The market is looking forward to the Third Plenary Session of the Mainland Central Committee next month, which will clearly adjust economic policies, and the market has a strong wait-and-see atmosphere. On the other hand, mainland economic data last month were mixed, and A-shares were also weak before the half-year end. Hong Kong stocks are expected to have difficulty making breakthroughs in the short term, and the Hang Seng Index remains within a narrow range of 17,800 to 18,600 points. In terms of sectors, high-interest-rate medium and special valuation concept stocks will still be sought after by investors, but stocks related to the real economy, such as retail consumption stocks, domestic demand tourism stocks and technology and Internet stocks, are under adjustment pressure. Investors are paying attention to the PCE inflation data released in the United States this week to speculate on the pace of interest rate cuts by the Federal Reserve.

 European stock markets came under pressure, with British, French and German stocks falling 0.41%, 0.58% and 0.81% respectively. 

Although some Federal Reserve officials have just proposed to study interest rate cuts, some officials have recently predicted that they will not cut interest rates this year. U.S. stocks developed individually on Tuesday. After the Dow opened 12 points lower, the decline gradually expanded to 413 points, reaching a low of 38,997 points; The S&P 500 index once rose 0.46%; large technology stocks performed well, driving the Nasdaq Index to rise by up to 1.36%. 

At the close of the U.S. stock market, the Dow Jones Industrial Average fell 299 points, or 0.76%, to 39,112 points; the S&P Index rose 21 points, or 0.39%, to 5,469 points; and the Nasdaq rose 220 points, or 1.26%, to 17,717 points. 

The U.S. dollar index rose as much as 0.29% to 105.782, the Euro fell 0.39% to $1.0691, and the Japanese yen fell slightly by 0.09% to 159.76 per dollar. Canada's inflation in May accelerated to 2.9% year-on-year from 2.7% in April, which was higher than the expected 2.6%, posing an obstacle to the central bank cutting interest rates again in July. The Canadian dollar once rose 0.23% to 73.39 US cents, and then Fall.