Investment 4/9/2024

Hong Kong stocks are weak and contentious. After opening 26 points lower at 17,665 points, the Hang Seng Index fell 108 points to 17,583 points, and then rose 33 points to 17,725 points. It fell 40 points or 0.23% for the whole day to 17,651 points; the technology index rose 10 points or 0.29 %, reported at 3,496 points. Main board transaction volume was HK$79.3 billion. 


The Hang Seng Index once approached the 18,000 mark earlier and successfully broke through the downward channel extended in May. If it can maintain the support of 17,500 points in the short term, it reflects that the rebound momentum launched in early August is sustainable. If you have goods, you can continue to hold them. If you don't, you can continue to hold them. Investors with large holdings are advised to wait and see for the time being. The recent inflow of mainland funds into the Hong Kong stock market has helped the market sentiment. However, the market is still waiting to see how much the Federal Reserve will cut interest rates this month. If the U.S. economy shows signs of deterioration, it will inevitably have a certain impact on U.S. stocks and even Hong Kong stocks. 


European stocks fell across the board, with British stocks closing down 0.78%, and French and German stocks both falling more than 0.9%.


 U.S. stocks resumed trading on Tuesday after the Labor Day holiday. Due to the latest weak economic data and the sell-off of Boeing Co., the market was significantly under pressure. After the Dow opened 73 points lower, the decline once expanded to 784 points, reaching a low of 40,778 points; The index once fell by 2.55%, and the Nasdaq, which is dominated by technology stocks, fell by up to 3.7%; the VIX volatility index, commonly known as the "fear index", once rose by 44.6% to 21.99. 


U.S. stocks closed at 40,936 points, down 626 points or 1.51%; the S&P 500 dropped 119 points or 2.12% to 55,28 points; the Nasdaq fell 577 points or 3.26% to 17,136 points. 


The US dollar index rose 0.27% to 101.92, and the Euro fell 0.42% to US$1.1027. Bank of Japan Governor Kazuo Ueda reiterated his tendency to continue raising interest rates, and the yen surged 1.24% to 145.1 per dollar.

 

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