Investment 30/8/2024

On the index futures settlement day, the Hang Seng Index opened 78 points lower at 17,614 points, and then fell 189 points to 17,502 points. It turned from falling in the afternoon and closed up 93 points, or 0.53%, at 17,786 points; the technology index rose 15 points or 17,786 points. 0.45%, reported at 3,461 points. Main board transaction volume was HK$108.1 billion.

 The exchange rate of the US dollar has fallen back, and the RMB has shown signs of strengthening, which will be helpful to Hong Kong stocks. However, the market has certain expectations for the direction of the U.S. Federal Reserve's interest rate. In addition, the earnings period is coming to an end, and corporate earnings performance are divergent. With the rise and fall of stock prices offsetting each other, it is difficult for the index to make a breakthrough. I believe that new news will stimulate it. The Hang Seng Index can only rise above 18,000 points, with support below 17,200 points. It is expected that the market will mainly move up and down in this range in the short term. 

European stock markets rose across the board, with British and French stocks rising by 0.43% and 0.84% respectively. German stocks closed higher by 0.69%, hitting a peak of 18,912 points. 

Chip giant Nvidia's impressive results failed to dispel investors' concerns about slowing growth. The stock price fell 7.1% during the session, but still fell 6.4% at the close. The U.S. economic growth in the second quarter was revised upward, offsetting the negative impact of the pressure on stock prices after Nvidia's results. U.S. stocks developed individually on Thursday. After opening 254 points higher, the Dow climbed as much as 486 points to a high of 41,577 points. The final increase was cut in half and remained unchanged. Hitting new market and closing highs; the S&P 500 index rose by 0.96%; the Nasdaq, which is dominated by technology stocks, rose by up to 1.33%. However, the Nasdaq and S&P 500 eventually evaporated all gains and closed modestly lower. 

U.S. stocks closed with the Dow Jones Industrial Average rising 243 points or 0.59% to 41,335 points; the S&P Index retreated less than 1 point to 5,591 points; the Nasdaq fell 39 points or 0.23% to 17,516 points. 

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