Investment 26/9/2024

China's combination of economic growth and the recovery of the RMB attracted funds to invest in the Chinese and Hong Kong stock markets, but the trend of Hong Kong stocks was first high and then low.  The Hang Seng Index opened 591 points higher and hit an all-day high of 19,592 points. Then the increase gradually narrowed, hitting a low of 19,072 points. It closed up 128 points or 0.67% for the day at 19,129 points. The Technology Index rose 8 points or 0.22% to 3,924 points. point.  Trading remained brisk, with main board turnover reaching HK$254.8 billion. ​


The U.S. Federal Reserve cut interest rates by half a percentage point last week, and many local banks rarely followed suit immediately, bringing surprises to the market and supporting the rise of Hong Kong stocks.  In addition, the Mainland's "combination punch" economy, the People's Bank of China, the State Administration of Financial Supervision, and the China Securities Regulatory Commission jointly launched a series of rescue measures, which further stimulated the Hang Seng Index to rise above the 19,000 level in one fell swoop. With the cooperation, the transaction volume surged to over HK$240 billion

the previous day. The market is looking forward to the return of European and American funds to the Hong Kong stock market to catch up. If the market transactions continue to cooperate, with sufficient momentum, Hong Kong stocks are expected to rise further. The next target of the Hang Seng Index will be the May high of 19,706 points.


The multiple blockbuster economic stimulus measures announced by China on Tuesday have not solved the core problem of the Chinese economy: weak consumption and private investment, and more fiscal policies will be needed to follow up in the future.  Therefore, although the Hong Kong, Shanghai and Shenzhen stock markets subsequently rose, they may not be sustainable.


 European stock markets softened, with British, French and German stock markets falling 0.17%, 0.5% and 0.41% respectively.


The excitement brought by China's heavy-handed economic stimulus measures has subsided, and the market has refocused on the performance of the U.S. economy.  U.S. stocks retreated from highs on Wednesday. After opening 27 points higher, the Dow once climbed 91 points to a new high of 42,299 points, and then fell 348 points to a low of 41,859 points. After breaking through the top, the S&P 500 index once turned around and fell 0.36%, with technology The stock-heavy Nasdaq has risen as much as 0.45%.


 At the close of the U.S. stock market, the Dow fell 293 points, or 0.7%, to 41,914 points; the S&P 500 dropped 10 points, or 0.19%, to 5,722 points; the Nasdaq edged up 7 points, or 0.04%, to 18,082 points.


 The U.S. dollar index fell first and then stabilized, rising 0.52% to 100.99 at the end; the Japanese yen fell 1.13%, hitting a low of 144.85 per dollar; the Australian dollar also fell 1.1% from its high in nearly a year to 68.17 US cents.  Euro fell 0.53% to $1.1122.

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