Investment 23/9/2024

After opening 56 points higher at 18,069 points, the Hang Seng Index once rose 341 points to 18,355 points. It rose 245 points or 1.36% to 18,258 points for the whole day, rising for the sixth consecutive trading day.  The Technology Index rose 52 points or 1.43% to 3,703 points.  Main board transaction volume was HK$176.8 billion.


 For the whole week, the Hang Seng Index rose by 889 points or 5.12%.


 It retreated after reaching the resistance zone last Friday and may consolidate in the short term. It is expected that the 100-DMA (17,883) will provide support.  U.S. stocks rose across the board overnight, which was positive for the market sentiment.  However, the recent rise in Hong Kong stocks has been mainly driven by technology stocks. The performance of heavyweight stocks such as HSBC Holdings (00005) and China Special Assessment has been sluggish. In addition, the market is still concerned about the mainland economy and corporate profitability. The market lacks upward momentum. The Hang Seng Index will continue to trend in the future. The situation is rampant between 17,200 and 18,400 points.  However, if the U.S. 10-year Treasury bond yield is 3.7 to 3.8% and the risk premium falls back to the historical average, the Hang Seng Index is expected to break through the dilemma and cross 18,500 points, looking towards the May high of 19,706 points.  This sharp rise requires the mainland to increase its stimulus policies and promote the restoration of fundamentals. It is recommended to continue to pay attention to the Internet, non-Chinese high-dividend stocks and real estate stocks.


European stock markets came under pressure, with British, French and German stocks falling 1.19%, 1.51% and 1.49% respectively.


 Friday is the "fourth settlement day" for U.S. stocks, which is the settlement day for futures and options on indexes and individual stocks, involving an expiring contract value of US$5.1 trillion. According to past records, market conditions on this day are generally volatile.  After the Dow opened 65 points lower, the decline once expanded to a maximum of 159 points, reaching a low of 41,865 points, and then rose by 113 points to a high of 42,138 points; the S&P 500 fell by as much as 0.69%, and the Nasdaq once fell by 0.99%.


 At the close of the U.S. stock market, the Dow Jones Industrial Average rose 38 points, or 0.09%, to 42,063 points; the S&P Index fell 0.19% to 5,702 points; and the Nasdaq Composite fell 0.36% to 17,948 points.

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Investment 24/4/2026

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Investment 27/4/2026

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