Investment 16/8/2024

Hong Kong stocks traded within a narrow range throughout the day. After the Hang Seng Index opened 105 points or 0.61% lower, it once fell 186 points and fell below the 17,000 level. It hit 16,926 points and then buckled. It once rebounded 170 points. It performed repeatedly in the afternoon, falling 4 points or 0.02% throughout the day to 17,109 points; the technology index It fell 11 points or 0.33% to 3,384 points. The market turnover exceeded HK$87.9 billion. 

The Hang Seng Index has been mainly hovering around 17,000 points recently, and the trading volume has continued to be quiet, which reflects that investors are cautious in entering the market and the market is unlikely to have breakthrough momentum. The index is expected to remain mainly between 16,500 and 17,500 points. Unless it rises above the 250-DMA (17,302), which divides bulls and bears, the weakness will be difficult to change. 

European stock markets rose across the board, with British stocks closing up 0.8%, and French and German stocks both rising by more than 1%. 

U.S. retail sales unexpectedly accelerated in July, and good employment data eased worries about an economic recession. U.S. stocks rose significantly on Thursday. After the Dow opened sharply higher by 287 points, the gain once expanded to as much as 582 points, reaching a high of 40,590. points, it still closed up 554 points, or 1.39%, at 40,563 points; the S&P 500 index rose 88 points, or 1.61%, to 5,543 points; the Nasdaq Composite, dominated by technology stocks, rose 401 points, or 2.34%, to 17,594 points. 

The U.S. dollar index rebounded by up to 0.64% to 103.23; the Euro fell by 0.56% to $1.095; the Japanese yen fell by up to 1.35% to 149.33 per dollar. 

The "huge earthquake" warning has just been lifted. Typhoon Ambi is approaching Kanto, Japan. The Tokaido Shinkansen has been suspended and Flight 497 has been cancelled.