Investment 10/10/2024

The performance of Hong Kong stocks was mixed. After the Hang Seng Index opened 363 points higher at 21,290 points, it rose 490 points to a high of 21,417 points, and then fell 736 points to a low of 20,190 points. It closed 289 points or 1.38% lower for the whole day at 20,637 points; Technology The index fell 55 points, or 1.17%, to 4,640 points.  Main board transaction volume was HK$427 billion.

Hong Kong stocks have already made deep adjustments on Tuesday and Wednesday due to being extremely overbought earlier. However, unless the Hang Seng Index recovers 20,800 points immediately, the technical form of Hong Kong stocks will deteriorate and there will be greater risks of a rebound.

 On the second day of China's long holiday resumption, the Shanghai and Shenzhen stock markets have opened significantly lower in the morning. Just as the market was disappointed that the National Development and Reform Commission did not introduce large-scale stimulus measures at the press conference the day before yesterday (8th), the authorities immediately took over and announced that this Saturday (12th) A press conference was held at 10 a.m., where Finance Minister Lan Fo'an introduced the situation of "increasing countercyclical adjustment of fiscal policy and promoting high-quality economic development." The market rekindled the expectation of favorable fiscal policy.

European stock markets performed well, with British, French and German stocks closing higher by 0.65%, 0.52% and 0.99%.

On the eve of the release of inflation data in the United States on Thursday, the minutes of the Federal Reserve's September interest rate meeting were released, showing that all officials agreed to cut interest rates at the meeting, but there were differences on whether to cut interest rates by half a percentage point. The news did not prevent U.S. stocks from rising repeatedly on Wednesday, with the S&P 500 hitting a record high The stock price reached a record high, and together with the Dow Jones Industrial Average, it reached a record closing high.  The Dow Jones Industrial Average opened 10 points lower and then turned upward. It rose as much as 481 points toward the close, reaching a high of 42,562 points. The S&P 500 index rose 0.79% to a record high of 5,796 points. The Nasdaq Composite Index, which is dominated by technology stocks, once rose 0.66%.

At the close of U.S. stocks, the Dow still rose 431 points, or 1.03%, to 42,512 points; the S&P 500 rose 40 points, or 0.71%, to 5,792 points; the Nasdaq rose 108 points, or 0.6%, to 18,291 points, which is far from its historical high on July 10. 1.9% lower.

The U.S. dollar index rose 0.37% to 102.92 at the end of the period; the Japanese yen fell as low as 149.35, down 0.77%; the Bank of New Zealand cut interest rates by 0.5%, and the New Zealand dollar surged 1.4% to 60.52 US cents.  The euro slipped 0.4% to $1.0938.

Today is the anniversary of the Revolution of 1911.  The Wuchang Uprising on October 10, 1911 was responded to by all provinces and successfully overthrew the Qing Dynasty. Later, the National Government designated the anniversary of the Revolution of 1911 as the National Day of the Republic of China.