Investment 7/6/2024

After the Hang Seng Index opened 152 points higher at 18,577 points, the increase once expanded to 275 points, touching the 18,700 point mark. However, it was still cold at the high point. It once turned down 41 points in the afternoon, reaching a low of 18,383 points. It closed up 51 points or 0.28% for the whole day. reported 18,476 points; the technology index rose 32 points, or 0.86%, to 3,840 points. Main board transaction volume was HK$114.5 billion. 


The latest economic data in the United States were mixed, with market expectations for the Federal Reserve to cut interest rates rising, the 10-year bond interest rate falling, and the Nasdaq and S&P 500 index both reaching their peaks overnight. If the external market does well, it will help Hong Kong stocks to a certain extent. In addition, the market also expects that the mainland may implement additional measures to stimulate the economy, especially real estate and consumption-related policies. After the market consolidates at the 18,500-point level, it is expected to continue to rise repeatedly, and is expected to challenge the 19,300-point resistance in the market outlook. 


European stock markets performed steadily, with British, French and German stocks rising 0.47%, 0.42% and 0.41% respectively. 


On the eve of the release of the U.S. employment data for May, U.S. stocks consolidated at high levels on Thursday. After opening 18 points higher, the Dow Jones Industrial Average rose 196 points to a high of 39,004 points, and then continued to improve. The historical highs were slightly retreated, with the S&P 500 rising 0.16% to 5,362 points and once falling 0.35%. The Nasdaq, which is dominated by technology stocks, climbed up to 0.28% to 17,235 points, but also fell 0.37%. 


U.S. stocks closed with the Dow Jones Industrial Average gaining 78 points, or 0.2%, at 38,886 points; the S&P Index fell 1 point, or 0.02%, at 5,352 points; and the Nasdaq Composite fell 14 points, or 0.09%, at 17,173 points.


 The U.S. dollar index rose 0.1% to 104.374 and fell 0.21% to 104.05. The European Central Bank cut interest rates as expected, but officials reportedly ruled out the possibility of another interest rate cut in July. The Euro rose by up to 0.3% to 104.05. $1.0902; the yen fell 0.21% to 156.44 per dollar.

 

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