Investment 11/9/2024

The Hang Seng Index opened 8 points higher at 17,205 points and then fluctuated in a narrow range, with a range of 164 points throughout the day. It closed up 37 points, or 0.21%, at 17,234 points, ending its five consecutive losses. The Technology Index rose 13 points, or 0.4%, to 3,450 points. point.  Main board transaction volume was HK$107.3 billion.


 Investors took advantage of the low price, and U.S. stocks rebounded sharply overnight, but the trading volume was not consistent. It is expected that U.S. stocks will still hover at high levels before the Federal Reserve's interest rate meeting next week. There is little chance of a sharp rise again, and the stimulation effect on Hong Kong stocks will be limited.  In terms of trend, the Hang Seng Index has returned to the downward channel that has been extended since May. The technical trend is relatively weak. The initial support in the market outlook is at 17,000 points, and the mid-line support is at the previous low of 16,441 points.


 European stock markets fell, with British, French and German stocks falling by 0.78%, 0.24% and 0.96% respectively.


 The market is waiting to see the first TV debate between U.S. presidential candidate Kamala Harris and Donald Trump on Wednesday morning Hong Kong time. In addition, the two major banks are downvoting the prediction that U.S. stocks will fall in the short term. U.S. stocks fell sharply on Tuesday, dragged down by bank stocks, and the Dow Jones Industrial Average fell sharply. After opening at 86 points, it fell as much as 412 points, reaching a low of 40,417 points. The decline subsequently eased significantly; the S&P 500 fell 0.54% but eventually recovered. The Nasdaq once fell 0.49%, and then recovered from its intraday low to It closed close to the day's high.


 U.S. stocks closed with the Dow Jones Industrial Average down 92 points, or 0.23%, to 40,736 points; the S&P Index rose 24 points, or 0.45%, to 5,495 points, marking its second consecutive day of gains; and the Nasdaq Composite Index rose 141 points, or 0.84%, to 17,025 points.


 The U.S. dollar index once rose 0.22% to 101.77, the Euro fell 0.18% to $1.1015, and the Japanese yen rose as much as 0.68% to 142.2 per dollar.

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