Investment 22/10/2024

Hong Kong stocks turned soft again after a day's rebound.  The Hang Seng Index opened 73 points lower at 20,730 points and then turned higher. However, selling pressure soon reappeared. In the afternoon, it fell as much as 381 points to 20,423 points. It fell 325 points or 1.56% for the whole day to 20,478 points; the Technology Index fell 108 points or 2.36% , reported 4,491 points.  Main board transaction volume was HK$195.5 billion.


 With the implementation of many policies in the mainland, there is certain support for the Hong Kong stock market to reach 20,000.  The third quarter results period is about to enter, and there are also a number of economic data released in the United States. I believe it will have some implications for the direction of interest rates. External factors will also affect the trend of Hong Kong stocks.  The Hang Seng Index will remain within the large range (19,361~21,300) in the market outlook: The Hang Seng Index fell below the 20-DMA (20,630) yesterday and has not yet made up for the rising gap on September 27 (19,954 to 20,268). It may be defensive. If it falls Breaking the above-mentioned gap, based on the golden ratio, the Hang Seng Index is expected to test the 0.618 times increase before the correction to support 19,361 points.  If it rebounds in the short term, the upper resistance will be around 20,900 points at 0.382 times the current rise. If the level is broken, there will be a chance to test 21,300 points.


 European stock markets were soft across the board, with German and French stocks closing about 1% lower, and British stocks also falling by 0.48%.


 Investors are waiting to see the earnings performance of U.S. companies to be released later this week. U.S. stocks developed individually on Monday. The Dow Jones Industrial Average retreated from its record high. After opening 53 points lower, the decline expanded to 398 points and reached a low of 42,877 points. The Nasdaq Index repeatedly stabilized, and the stock index fell sharply. Nvidia's stock price hit a record closing high.  Goldman Sachs expects the 10-year rally to be over.


 At the close of the U.S. market, the Dow still fell 344 points, or 0.8%, to 42,931 points; the S&P 500 fell 10 points, or 0.18%, to 5,853 points; the Nasdaq rose 50 points, or 0.27%, to 18,540 points.


 The U.S. dollar index rose 0.51% to 104.02; the Euro fell 0.53% to $1.0811.  The yen fell below 150 per dollar again, falling 0.88% to 150.85.

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Investment 24/4/2026

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