Investment 10/9/2024

Hong Kong stocks continued to follow the external stock markets. The Hang Seng Index opened 182 points lower at 17,261 points, and then fell 376 points to 17,067 points. It fell 247 points or 1.41% to 17,196 points for the whole day, falling for the fifth consecutive trading day; the technology index fell. 51 points or 1.46%, reported at 3,436 points.Main board transaction volume was HK$133.6 billion.

 

  The Hang Seng Index fell below the upward trajectory extended in early August last week, and yesterday it fell below the 250-day moving average (17,256), which divides bulls and bears. It may rebound in the short term. Last Wednesday's falling gap (17,531 to 17,583) is expected to provide resistance. The initial support in the market outlook is at 17,000 points, and the mid-line support is at the early low of 16,441 points.  Influence.


 Citigroup, an American investment bank, has recently updated its incremental targets for the Hang Seng Index this year and next. The target for the end of this year has dropped from 20,500 points to 19,800 points, a decrease of about 3%; the target for the middle of next year has dropped from 22,000 points to 21,000 points.  The profit growth expectations of Chinese and Hong Kong companies are low, coupled with the growth of mainland power demand and broad money (M2) supply, the growth rate of the Hang Seng Index is targeted.


 European stock markets rose across the board, with British, French and German stocks rising by 1.09%, 0.99% and 0.77% respectively.


 Investors took advantage of the low and U.S. stocks rebounded sharply on Monday. After the Dow Jones opened 209 points higher, the increase once expanded to 654 points, reaching a high of 41,000 points. The index rose as much as 1.4%, and the Nasdaq once rose 1.39%.  The index closed down 12.6% to 19.56.


 At the close of the U.S. stock market, the Dow Jones rose 484 points, or 1.2%, to 40,829 points; the S&P 500 rose 62 points, or 1.16%, to 5,471 points; and the Nasdaq rose 193 points, or 1.16%, to 16,884 points.


 The U.S. dollar index rose as much as 0.51% to 101.7, the Euro fell 0.44% to $1.1035, and the Japanese yen fell 1.05% to 143.8 per dollar.


 The market is watching the first televised debate between Harris Harris and Trump on Tuesday in the US presidential election.

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