Investment 24/7/2024

Mainland stock markets closed lower across the board, dragging down Hong Kong stocks to deepen their decline in late trading. The Hang Seng Index opened 43 points higher and then immediately turned negative. The decline expanded to more than 100 points in the afternoon and closed at 17,469 points, down 166 points or 0.94%. The Technology Index fell 65 points or 1.82% to 3,545 points. The market turnover was HK$85.8 billion, less than HK$100 billion for two consecutive days. 

The interest rate cut by the People's Bank of China is modest and has limited stimulating effect on the stock market. The Hang Seng Index has found support at 17,000 points, but the rebound is not expected to be strong. There is a chance that the market will repeatedly test 17,000 points again in the future. It is advisable to adopt a defensive strategy. 

Affected by Typhoon "Geme", Taiwan's stock and foreign exchange markets were suspended for one day today (Wednesday). 

European stock markets developed individually, with British and French stocks falling 0.38% and 0.31% respectively, while German stocks closed up 0.82%. 

Investors are waiting to see the results of large technology stocks. U.S. stocks were repeatedly soft on Tuesday. After opening 28 points lower, the Dow once fell 90 points to a low of 40,319 points, and then rose by up to 112 points to a high of 40,527 points; the S&P 100 once rose 0.4%. , the Nasdaq once rose 0.7%, and the three major indexes eventually weakened repeatedly. 

At the close of U.S. stocks, the Dow Jones Industrial Average fell 57 points, or 0.14%, to 40,358 points; the S&P Index fell 8 points, or 0.16%, to 5,555 points; and the Nasdaq Composite fell slightly, 10 points, or 0.06%, to 17,997 points.

 The U.S. dollar index rose as much as 0.21% to 104.535, the euro fell 0.43% to $1.0844, and the yen rose 0.89% to 155.64 per dollar. Investors continue to reduce short positions in the yen ahead of next week's interest rate meeting by the U.S. Federal Reserve and the Bank of Japan.