Investment 2/10/2024

Hong Kong stocks continued to be strong, with transaction volume setting a new record.  After the Hang Seng Index opened 543 points higher at 21,175 points, the increase narrowed to 157 points. Then it regained strength and once rose 856 points to 21,488 points. It rose 501 points or 2.43% for the whole day to 21,133 points, the fifth consecutive increase. On the trading day, the technology index rose 298 points, or 6.7%, to 4,751 points.  Main board transaction volume increased to a record high of HK$505.8 billion.

 In terms of technical trends, Hong Kong stocks have reached an extremely overbought level. In addition, it is a long holiday in the Mainland. With the suspension of North Water, trading may shrink, and adjustments may occur at any time. First, it may be pulled back to 20,400 points, and the May high of 19,706 points more support.  After the adjustment, the upward trend resumes, and the Hang Seng Index may reach the high of 22,700 points at the beginning of last year before the end of the year.  But if the Hang Seng Index returns to 18,800 points, the uptrend will end.

European stock markets developed individually, with British stocks rising 0.48%, German stocks and French stocks falling 0.58% and 0.81% respectively.

U.S. stocks came under significant pressure on Tuesday. After the Dow opened 67 points lower, the decline once expanded to 384 points, reaching a low of 41,945 points; the S&P 500 index fell as much as 1.41%; the Nasdaq, which is dominated by technology stocks, once fell 2.25%.

 At the close, the Dow Jones Industrial Average still fell 173 points, or 0.41%, to 42,156 points; the S&P Index fell 53 points, or 0.93%, to 5,708 points; and the S&P 500 dropped 278 points, or 1.53%, to 17,910 points.

The US dollar index continued to rise by up to 0.61% to 101.39; the Japanese yen once fell 0.63% to 144.53 per dollar; the Euro once fell 0.81% to as low as $1.1047;