Investment 5/9/2024

U.S. stocks fell overnight, triggering a sell-off in Asia-Pacific stock markets. The Hang Seng Index opened 176 points lower at 17,474 points, and later fell 318 points to 17,333 points. It fell 194 points, or 1.1%, to 17,457 points for the whole day, falling for three consecutive trading days; the Technology Index fell 13 points, or 0.39%, to 3,482 points. point. Main board turnover was HK$96.9 billion. 

The market believes that the peak period of the chip stock business has passed. After the market closed, there was news that the United States has upgraded its antitrust investigation. As the stock prices of the "Seven Heroes" in the U.S. stock market have shown signs of peaking since July, there is a chance for continued adjustments in the market outlook. In addition, Taiwan stocks and Japanese stocks They were all under significant pressure during the Asian session, and Hong Kong stocks could not escape the fall. 

European stock markets came under pressure, with British, French and German stocks falling 0.35%, 0.98% and 0.83% respectively. 

Dovish remarks from Federal Reserve officials, coupled with the rise in the U.S. 10-year bond interest rate above the 2-year bond interest rate, ended the yield inversion that began in June 2022, which is good for investor sentiment. U.S. stocks struggled on Tuesday, but eventually developed individually. After opening 64 points lower, the Dow Jones Industrial Average rebounded as much as 235 points, reaching a high of 41,172 points, and then fell 96 points to a low of 40,840 points. The S&P 500 fell back as much as 0.46%, while the Nasdaq once fell 96 points to a low of 40,840 points. It fell 0.88% and then rose 0.56%. 

At the close of the U.S. stock market, the Dow Jones Industrial Average rose 38 points, or 0.09%, to 40,974 points; the S&P Index fell slightly, 9 points, or 0.16%, to 5,520 points; and the Nasdaq Composite dropped 52 points, or 0.3%, to 17,084 points.

 The U.S. dollar index fell 0.58% to 101.238, the euro rose 0.79% to $1.1131, and the yen surged 1.19% to a maximum of 143.75 per dollar. As expected, the Bank of Canada cut interest rates by 0.25% after three consecutive meetings, bringing the benchmark interest rate to 4.25%. The bank reiterated its expectation that it will further cut interest rates, saying that as inflation gets closer to its target, the bank needs to guard against the risk of an overly weak economy. , the Canadian dollar once rose 0.37% to 74.07 US cents.