Investment 25/7/2024

The Hang Seng Index opened 14 points lower and just landed on the 250-DMA (17,454) that separates bulls and bears. The decline once extended to 218 points, reaching a low of 17,251 points. It fell 158 points or 0.9% for the whole day to 17,311 points, falling to a nearly three-month low. The technology index fell 53 points, or 1.52%, to 3,491 points. Main board turnover was HK$86.8 billion. 


If the Hang Seng Index not returns to the bull-bear line today and tomorrow, the market outlook will be very weak and fall below the 17,000 level. The RMB exchange rate is weak, and the mainland's economic recovery is not as fast as expected. The Chinese and Hong Kong stock markets have continued to decline recently. Although the People's Bank of China has made repeated moves in the hope of stabilizing economic growth, their stimulating effect on the stock market has been limited, and the market's trading volume has been muted, reflecting a conservative trend in capital and sending a bearish signal. In addition, the U.S. presidential election has entered a straight line, and the market is concerned that the relationship between China and the United States will become tense again, which will be detrimental to the economy and even the stock market. Investors should be cautious in the second half of the year. 


European stock markets were under pressure across the board, with British, French and German stocks falling 0.17%, 1.12% and 0.92% respectively.


 The latest performance of European and American companies was unsatisfactory. U.S. stocks fell sharply on Wednesday. The Dow opened 147 points lower and then fell rapidly. The drop once reached 550 points and fell. 40,000, as low as 39,807 points; the S&P 500 fell 2.43%, and the Nasdaq fell 3.8 at most. The VIX volatility index, commonly known as the "fear index", rose 24.2% to close at 18.28. 


U.S. stocks closed with the Dow Jones Industrial Average falling 504 points or 1.25% to 39,853 points; the S&P Index falling 128 points or 2.31% to 5,427 points; and the Nasdaq Composite falling 654 points or 3.64% to 17,342 points.

 

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