Investment 20/9/2024

The U.S. Federal Reserve cut interest rates by half a percent, and Hong Kong stocks fell first and then rose, successfully regaining the 10,000 mark. The Hang Seng Index opened 26 points lower at 17,633 points. After testing the 17,600-point level, it found support and reversed its decline. The gain expanded to 411 points in the afternoon and reached a high of 18,071 points. It rose 353 points or 2% throughout the day to 18,013 points, continuing to rise. Five trading days; the technology index rose 114 points, or 3.25%, to 3,651 points. Main board transaction volume increased to HK$148.7 billion.


 Hong Kong stocks have clearly benefited from the news of interest rate cuts. If the Hang Seng Index rises above the previous high of 18,202 points, the market may improve its weakness. However, the market is still paying attention to the economic situation. It is believed that a new round of stimulus policies in the mainland will be needed before the stock market is expected to experience a greater surprise.


 European stocks rose across the board, with British, French and German stocks rising 0.91%, 2.29% and 1.55% respectively.


 The U.S. Federal Reserve cut interest rates as expected, and the rate cut was larger than expected. Chairman Powell said that the extent of future interest rate cuts will still depend on the performance of economic data, and reiterated that it will continue to reduce the balance sheet. The market hopes that the policy can help the U.S. economy. After a soft landing, U.S. stocks rebounded significantly on Thursday. After the Dow opened 469 points higher, the gain expanded to a maximum of 657 points, reaching a maximum of 42,160 points; the S&P 100 once rose 2.05% to 5,733 points; the Nasdaq, which is dominated by technology stocks, The maximum rebound is 3%.


 At the close of the U.S. stock market, the Dow rose 522 points, or 1.26%, to 42,025 points; the S&P 500 rose 95 points, or 1.7%, to 5,713 points; and the Nasdaq rose 440 points, or 2.51%, to 18,013 points. The Dow Jones Industrial Average and the S&P 500 both broke through their peaks and closed at record highs.

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