Investment 1/11/2024

Hong Kong stocks fell for two consecutive days.  After opening 33 points higher, the Hang Seng Index once rose 172 points to 20,553 points in the morning, and fell as much as 55 points in the afternoon. It closed down 63 points, or 0.31%, at 20,476 points for the day; the Technology Index fell 14 points, or 0.32%, to 4,499 points.   Market turnover exceeded HK$154.4 billion.

 For the whole month of October, the Hang Seng Index fell by 816 points or 3.86%, and the Technology Index fell by 252 points or 5.3%.

 The market is waiting to see corporate performance, as well as the mainland's upcoming economic measures. Hong Kong stocks have maintained a narrow range recently, and it is difficult to make a breakthrough in the short term. The Hang Seng Index will test the support of 20,000 points, and there is great resistance at 21,000 points above.

 European stock markets were under selling pressure, with British stocks closing down 0.61%, and French and German stocks both falling about 1%.

 Among U.S. companies, among the heavyweight stocks, Meta, Microsoft, Apple, Amazon, Estee Lauder, Uber, and eBay all performed poorly. U.S. stocks were significantly under pressure on Thursday. After the Dow opened 185 points lower, the decline expanded to a maximum of 436 points. At 41,704 points, the S&P 500 had fallen by 1.91%. The Nasdaq, which is dominated by technology stocks, once fell by 2.82%. The VIX volatility index, commonly known as the "fear index", rose by up to 15% to 23.42.

 At the close of U.S. stocks, the Dow Jones Industrial Average fell 378 points, or 0.9%, to 41,763 points; the S&P Index fell 108 points, or 1.86%, to 5,705 points; and the Nasdaq Composite fell 512 points, or 2.76%, to 18,095 points.

 The U.S. exchange rate index rose repeatedly by 0.22% to 104.22; inflation in the European zone accelerated to 2% in October, higher than the expected 1.9% increase, and the Euro once rose 0.3% to $1.0891; the Bank of Japan hinted that it would continue to raise interest rates, and the yen rose at most 1.03% to 151.84 per dollar.