Investment 4/6/2024

Hong Kong stocks performed well on the first trading day in June. After opening 203 points higher at 18,283 points, the Hang Seng Index once expanded to 494 points, reaching a high of 18,573 points. It closed up 323 points, or 1.78%, at 18,403 points, ending four consecutive losses; the technology index rose 93 points, or 2.52%, to 3,784 points. point. Main board transaction volume was HK$132.3 billion. 


China launched a number of measures last month to support the property market, retail and even the stock market. Some sectors rose sharply, driving the Hang Seng Index to a high of 19,706 points in May. However, the effect of relevant policies on the real economy remains to be seen. Hong Kong stocks have also fallen from their highs and are expected to range between 18,000 and 18,800 points in the short term. The short-term resistance above the rebound is 19,300 points. Hong Kong stocks are expected to remain volatile throughout June. The Hang Seng Index rose from 16,044 points in April to a May high of 19,706 points. If the fibo 0.5 of the current rise is taken back, the index has the opportunity to test the 17,900 point level. If the fibo 0.618 is lowered, the adjustment target will be 17,442. Pay attention to the direction of Chinese funds. If the inflows into Hong Kong stocks can continue, I believe it will have certain support for the market. 


European stock markets developed individually, with British stocks falling 0.15%, and French and German stock markets rising 0.06% and 0.6% respectively. 


The U.S. manufacturing data was poor, and U.S. stocks showed mixed performance on Monday and developed individually. The Dow Jones Industrial Average rose first and then fell, opening 23 points higher and then inverting to a maximum of 439 points, reaching a low of 38,247 points. The S&P 500 once turned around and fell 0.82%; the Nasdaq once rose 1.04%. , and then fell back to 0.53%, and the S&P 500 eventually recovered. 


At the market close, the Dow Jones Industrial Average fell 115 points, or 0.3%, to 38,571 points; the S&P Index rose 5 points, or 0.11%, to 5,283 points; and the Nasdaq rose 93 points, or 0.56%, to 16,828 points. 


The US dollar index once fell 0.54% to 104.1, the euro rose 0.5% to $1.0902, and the yen surged by up to 0.86% to 155.95 per dollar.

 

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