Investment 23/10/2024

The Hang Seng Index opened 44 points lower at 20,433 points and then fluctuated. The low fell 98 points to 20,380 points and the high rose 151 points to 20,629 points. It rose 20 points or 0.1% for the whole day to 20,498 points; the technology index rose 29 points or 0.66%, reported 4,521 points.  Main board transaction volume was HK$154.8 billion.


 After rebounding yesterday, the Hang Seng Index is still constrained by the 10-DMA (20,638).  The Hong Kong stock market adjusted after a sharp rise at the beginning of this month, but it found support when it fell to the rising gap on September 27 (19,954 to 20,268).  In fact, the mainland has launched multiple policies to stabilize the economy. Although there are no surprises in the specific scale and timetable, it will inevitably disappoint the market. However, as the policies are gradually implemented, the market is expected to stabilize and rebound from lows. There is a certain value in entering the market at current levels. The betting rate is that it is not advisable to lose 20,000 points of support.


 European stock markets were mixed, with British and German stocks closing down 0.14% and 0.2% respectively, while French stocks fell slightly by 0.01%.


 The International Monetary Fund (IMF) lowered its global economic growth forecast and warned of rising risks of war and trade protectionism. Coupled with concerns about further rises in U.S. debt interest rates, U.S. stocks traded mixed on Tuesday.  After the Dow opened 54 points lower, the decline expanded to a maximum of 213 points and a low of 42,718 points. Afterwards, it repeatedly stabilized at low levels; the S&P 500 once fell by 0.56%, and the Nasdaq, which is dominated by technology stocks, fell by up to 0.68%.


 U.S. stocks closed with the Dow down slightly by 6 points to 42,924 points; the S&P Index fell by 2 points or 0.05% to 5,851 points; and the Nasdaq rose by 33 points or 0.18% to 18,573 points.


 The U.S. exchange rate index once fell 0.19% to 103.816; the Euro fell back 0.22% to $1.0793; the Japanese yen rose 0.23% to 150.5 per dollar.

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