Investment 15/8/2024

Hong Kong stocks ended five consecutive gains. The Hang Seng Index opened 59 points or 0.35% higher at 17,233 points. It once rose 80 points to the day's high of 17,254 points, and then turned back and fell 60 points or 0.35% for the day to 17,113 points. The Technology Index fell 33 points or 0.99%. It was quoted at 3,395 points. The market transaction volume was only HK$68 billion, a new low in the past six months. 


Mainland economic data are still lower than expected. Unless there is a policy shift and domestic demand and consumption improve significantly, the real economy will continue to be under pressure. The Hang Seng Index will remain at 16,600 to 17,300 points in the short term. In the short term, you can pay attention to the upcoming results of technology and Internet stocks to see whether they will surprise the market. 


European stock markets remained stable, with British, French and German stocks closing up 0.56%, 0.79% and 0.41% respectively. 


U.S. core inflation decelerated for four consecutive months in July, clearing the way for the Federal Reserve to start cutting interest rates in September. U.S. stocks rose repeatedly on Wednesday. After opening 34 points higher, the Dow Jones Industrial Average fell 28 points. It reached a maximum of 303 points and reached a high of 40,068 points. Financial stocks were favored; the S&P Index once rebounded by 0.53%; the Nasdaq Index once fell by 0.9% and then stabilized repeatedly, eventually recovering all lost ground. 


At the close of the U.S. stock market, the Dow rose 242 points, or 0.61%, to 40,008 points; the S&P 500 rose 20 points, or 0.38%, to 5,455 points, rising for five consecutive trading days; the Nasdaq rose 5 points, or 0.03%, to 17,192 points. 


 The U.S. dollar index fell as much as 0.28% to 102.27, the Euro rose 0.49% to $1.1049, and the Japanese yen fell 0.51% to 147.58 per dollar. The Bank of New Zealand unexpectedly cut interest rates by 0.25%, and the New Zealand dollar surged by 1.4%, reaching a low of 59.94 US cents. Inflation in the British service sector slowed sharply, and the pound fell 0.33% to $1.282. 


SK is cooperating with TSMC to develop HBM4 and mass-produce it in 2026.

 

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