Investment 4/7/2024

The Hang Seng Index opened 72 points higher at 17,841 points. Later, the increase expanded to 248 points, reaching a high of 18,017 points. It rose 209 points or 1.17% to 17,978 points for the whole day, rising for three consecutive days; the technology index rose 87 points or 2.48% to 17,978 points. At 3,626 points, the main board transaction volume was HK$113.5 billion. 

The Hang Seng Index surged higher again yesterday, but was still capped at 18,000 points. This was mainly affected by derivatives and too many heavy bull contracts inhibited the market's upward trend. In addition, the dividend tax reduction that the market is longing for is only a sound. Hong Kong stocks need to be stimulated by more good news to hope for a breakthrough. The Hang Seng Index remains at 17,300 to 18,000 points in the short term. 

The UK held a general election on Thursday, and European stocks performed well across the board, with British, French and German stocks rising by 0.61%, 1.24% and 1.16% respectively. 

There is only half a day of trading on the eve of the Independence Day holiday in the United States. The market is waiting to see the minutes of the Federal Reserve's last interest rate meeting released in the early hours of Thursday morning Hong Kong time. U.S. stocks performed individually on Wednesday. The Dow once rose 79 points, reaching a high of 39,411 points, and then fell repeatedly, with the most falling 100 points, as low as 39,230 points, and closed down 23 points, at 39,308 points; the S&P 500 index closed up 28 points, or 0.51%, at a new high of 5,537 points, and the market broke the top and reached a high of 5,539 points; the Nasdaq also rose 159 points, or 0.88%. It closed at 18,188 points and broke the top. 

The U.S. exchange rate index fell up to 0.64% to 105.049; the Japanese yen hit a 38-year low for three consecutive days, hitting a low of 162.01 per dollar, down 0.35%; the Euro rose 0.68% to $1.082.

 The latest minutes of the U.S. Federal Reserve's interest rate meeting show that officials said at the June meeting that inflation is moving in the right direction, but the improvement is not fast enough for the authorities to lower interest rates.