Investment 26/7/2024

The Hang Seng Index opened 50 points lower and the decline intensified. It fell below the 17,000 point level in the afternoon and hit a low of 16,964 points. It fell 306 points or 1.77% for the whole day to 17,004 points. It fell for the third consecutive day and hit another three-month low; Technology The index fell 69 points, or 2%, to 3,421 points. Market turnover was HK$105.7 billion.


 The external market is in shock, and Hong Kong stocks have the opportunity to continue to test lows. If the market closes today and fails to recover the 150-DMA (17,125), it will reach 17,000 points or even 16,800 points next week. In addition, the news that many mainland banks have lowered their deposit interest rates is slightly positive, which will help mainland banks maintain stable interest margins. Banks with more short-term demand deposits can benefit immediately. 


European stock markets were generally under pressure, with French stocks closing 1.15% lower, German stocks falling 0.48%, and British stocks slightly stronger, rising 0.4%. 


The U.S. economic growth in the second quarter was stronger than expected, which slightly alleviated the market's concerns about poor corporate performance. U.S. stocks developed individually on Thursday, with the Dow Jones Industrial Average rebounding after rising higher. After opening 25 points lower, the index once rose 584 points, once again surpassing 40,000 points, reaching 40,438 points. In the end, most of the gains evaporated; the S&P 500 index rose by up to 1.19%, and then fell repeatedly; the Nasdaq, which is dominated by technology stocks, once fell 1.78% and closed repeatedly under pressure.


 At the close of U.S. stocks, the Dow Jones Industrial Average rose 81 points, or 0.2%, to 39,935 points; the S&P Index fell 27 points, or 0.51%, to 5,399 points; and the Nasdaq fell 160 points, or 0.93%, to 17,181 points. 


The U.S. dollar index fell as much as 0.3% to 104.08; the Euro rose 0.28% to $1.0872. Carry trading activities once again pushed up the yen exchange rate sharply, once reaching 151.94 per dollar, up 1.27%. However, after the release of US GDP data, there were repeated mild declines.

 

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Investment 24/4/2026

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