Investment 15/7/2024

The Hang Seng Index opened 187 points higher at 18,020 points and then maintained its upward trend. The increase once expanded to 484 points in the afternoon, reaching a high of 18,317 points. It rose 461 points or 2.58% for the whole day to 18,293 points. It rose 493 points or 2.77% for the whole week; the technology index It rose 85 points or 2.31% to 3,782 points. Main board transaction volume was HK$119.4 billion. 

The Hang Seng Index surged to 19,706 points in May and then adjusted overbought. The trend was wave after wave. It rebounded late last week. This was mainly due to the market's expectation that the Federal Reserve would cut interest rates in September. The U.S. exchange rate index fell and the RMB rebounded. It is estimated that the Hang Seng Index can break through the resistance of the 50-DMA (18,344) this week, and the next upward target is the previous high of 19,706 points. If there is a short-term adjustment in the Hang Seng Index, last Friday's rising gap (17,864 to 18,020) and the 20-DMA (17,912) can provide support. 

European stock markets continued to rise, with British, French and German stocks closing 0.36%, 1.27% and 1.15% higher respectively. 

Although U.S. producer prices accelerated in June, it did not hinder the market's expectations that the Federal Reserve would begin to cut interest rates in September. Bond interest rates continued to fall. U.S. stocks performed significantly better on Friday. The Dow Jones Industrial Average rose above the 40,000-point mark again, opening 29 points higher. It soared up to 503 points, hitting a record high of 40,257 points; the S&P 500 index once rose 1.27%, reaching a peak of 5,655 points; the Nasdaq, which is dominated by technology stocks, once rebounded 1.49%, reaching a high of 18,556 points. 

At the close of the U.S. market, the Dow's rise slowed to 247 points, or 0.62%, to 40,000 points; the S&P Index rebounded 30 points, or 0.55%, to 5,615 points; the Nasdaq rebounded 115 points, or 0.63%, to 18,398 points. Last week, the Dow rebounded 1.6%, the S&P 500 rebounded 0.9%, and the Nasdaq jumped 0.3%. 

The U.S. exchange rate index continued to fall by up to 0.38% to 104.04; the Japanese yen fluctuated again during the U.S. market session, rising by as much as 0.92% to 157.38 per dollar; the Euro also rose by 0.4% to $1.0913. The British pound continued to strengthen, rising 0.6% to $1.2992.