Investment 10/7/2024

The Hang Seng Index opened 43 points lower at 17,481 points, and then the decline expanded to 147 points, reaching a low of 17,376 points. However, it finally closed down less than 1 point at 17,523 points. The 250-DMA(17,509) that divides bulls and bears was lost; the technology index outperformed The broad market rose 34 points or 0.9% to close at 3,600 points, with a turnover of HK$94.3 billion. 


The market has a positive view on the performance of U.S. companies in the new quarter, which has brought support to U.S. stocks. Investors are currently afraid of missing out on good opportunities and will chase after a pullback. Therefore, it is difficult to see a deeper retreat in U.S. stocks and a better trend. However, even if the U.S. stock market is strong, it is difficult to drive the Hong Kong stock market. The fundamental factors of the Hong Kong stock market have not improved and have not been able to get rid of the downward trajectory that started in 2021. The Hong Kong stock market may not have much support at the 250-DMA. The market outlook is likely to turn downward. Even if there is a rebound, there is still a lot of resistance at the 18,000 level. It is not recommended to buy goods at this stage. If you hold the goods, you can reduce the weight or stop losses when there is an occasional rebound. 


Fubon Bank believes that even though the current valuation of Hong Kong stocks is very low, due to factors such as geopolitics, Western funds have not tended to invest in Chinese and Hong Kong stock markets in recent years; unless Sino-US relations recover, Hong Kong stocks will continue to underperform European and American stock markets in the second half of this year and stabilize before the end of the year. 19,000 points are all difficult. The main reason for the decline of Hong Kong stocks in recent years, in addition to the new crown epidemic, is the trade war launched by former U.S. President Trump against China. If Trump can regain the White House at the end of this year, the U.S. policy towards China will be even more uncertain. It means that in the worst case scenario, it will test the 15,000 level in the first half of next year. In fact, whether Trump or Biden is elected, it will be detrimental to the future performance of Hong Kong stocks. 


European stock markets came under pressure, with British, French and German stock markets falling 0.66%, 1.56% and 1.28% respectively. 


U.S. Federal Reserve Chairman Jerome Powell appeared before the Senate Banking Committee on Tuesday to testify on the semi-annual monetary policy report. He pointed out that recent data showed modest progress in easing prices and that the authorities needed more good data to enhance confidence that inflation was heading towards the 2% target, suggesting that an interest rate cut at the end of this month was unlikely. 


The Dow Jones Industrial Average opened 12 points higher on Tuesday and then immediately turned lower. After Powell's speech, the Dow Jones Industrial Average fell 198 points to a low of 39,146 points, and then rose 147 points to a high of 39,492 points. The S&P 500 hit its peak again and rose 0.32%. To 5,590 points, the Nasdaq rose up to 0.59% to a record high of 18,511 points. The Nasdaq and the S&P 500 closed at a record high.


 At the close of the U.S. market, the Dow fell 52 points, or 0.13%, to 39,291 points; the S&P 500 rose 4 points, or 0.07%, to 5,576 points; the Nasdaq rose 25 points, or 0.14%, to 18,429 points. 


The U.S. dollar index rose up to 0.2% to 105.208; the yen fell 0.43% to a low of 161.52 per dollar; the euro fell 0.17% to $1.0806.

 

留言

張貼留言

這個網誌中的熱門文章

Investment 29/4/2026

圖片
The Hang Seng Index opened 111 points lower at 25,814 and continued its downward trend, falling as much as 316 points in the afternoon to a low of 25,609. It closed down 245 points, or 0.94%, at 25,679. The Technology Index fell 112 points, or 2.28%, to 4,827. Total market turnover was HK$262.3 billion. It is anticipated that the US and Iran will not reach a negotiation agreement soon; furthermore, the liquidity drain and the upcoming May Day holiday have contributed to the two consecutive days of decline in Hong Kong stocks. The Hang Seng Index may test the support level of the 250-day moving average (25,404), while the 100-day moving average (26,098) will turn from support to resistance. Investors should not rush into the market now but should adopt a risk-averse strategy, waiting for the Hang Seng Index to potentially fall to the 24,409 level before considering buying on dips to position for a rebound. European stocks traded mixed, with the UK FTSE 100 rising slightly by 0.11%, whil...
閱讀完整內容

Investment 24/4/2026

圖片
The Hang Seng Index opened 64 points lower at 26,098, and the decline widened to 322 points at one point, reaching a low of 25,840. It closed down 248 points, or 0.94%, at 25,915. The Technology Index fell 98 points, or 1.98%, to 4,865. Total market turnover was HK$255.3 billion. The Hang Seng Index broke below the 16,000-point mark. However, due to the relatively lagging performance of Hong Kong stocks and stable market sentiment, a significant correction has not yet occurred. It is believed that the Hang Seng Index can hold the 250-day moving average (25,349), a key level for bull and bear markets, while facing strong resistance at 27,000 points. European stock markets showed mixed performance, with British and German stocks falling 0.19% and 0.16% respectively, while French stocks rose 0.87%. With the Middle East situation unresolved and investors awaiting the implementation of peace talks, international oil prices remained high, putting pressure on US stocks on Thursday. The Dow Jo...
閱讀完整內容

Investment 27/4/2026

圖片
The Hang Seng Index opened 181 points lower at 25,733, and once plunged 275 points to a low of 25,639, before recovering its losses, rising as much as 89 points to 26,004. It closed the day up 62 points, or 0.24%, at 25,978; the Tech Index rose 36 points, or 0.75%, to 4,902. Total market turnover was HK$236.7 billion. For the week, the Hang Seng Index fell 182 points, or 0.69%. Hong Kong stocks rebounded on Friday but failed to recover the 26,000-point mark. The Hang Seng Index broke through the descending channel earlier this month with an upward gap (25,254 to 25,668). Last week's short-term correction to this gap followed by a sharp rebound reflects the strong support at this level. Recent geopolitical tensions have fluctuated, causing Hong Kong stocks to trade in a volatile range. Without significant positive or negative news, they are expected to fluctuate between 25,500 and 26,300 points this week. If the market can break through and hold above 26,300 points, it may test the ...
閱讀完整內容