Investment 28/10/2024

The Hang Seng Index opened 32 points higher at 20,521 points and later rose 294 points to 20,784 points. It rose 100 points or 0.49% for the whole day to 20,590 points. The Technology Index rose 54 points or 1.2% to 4,538 points.  Main board transaction volume was HK$161.2 billion.  For the whole week, the Hang Seng Index fell 213 points or 1%.

 The market's volatility has narrowed recently and is trading sideways. The Hang Seng Index is expected to fluctuate between 19,700 and 21,700 points in the short term, waiting for a breakthrough.  The Hang Seng Index fell to the rising gap on September 27 last week (19,954 to 20,268), which supports temporary respite. The decline last week was also significantly narrower than the previous two weeks, and the decline slowed down, but there is no signal that the adjustment has been completed.  Tomorrow's futures index will be settled. According to the current market conditions, this month's futures index will be rolled over and settled above 20,000 points. If the calculation is correct, it may wait for an opportunity to cross the 20-DMA (21,014) next month, and then further search for 11 month high.

 Investors are paying attention to whether the central government will introduce further policies to stimulate the economy and the stock market. They are also waiting to see the direction of U.S. long-term bond interest rates, the presidential election situation, and the geopolitical situation in the Middle East.

 European stock markets were mixed, with British and French stocks falling slightly by 0.25% and 0.08% respectively, while German stocks rose by 0.11%.

 U.S. bond interest rates have been hovering at recent highs. The 10-year bond interest rate once rose by more than 5 basis points, reaching a high of 4.253%, driving large technology stocks upward. U.S. stocks experienced individual gains on Friday. After the Dow opened 103 points higher, the increase once expanded to 220 points. , peaked at 42,594 points, and then fell as much as 322 points to a low of 42,051 points; the S&P 100 once rose 0.91%; the Nasdaq, dominated by technology stocks, once rose 1.49%, breaking through the top and rising to 18,690 points, closing close Historical highs.

 U.S. stocks closed at 42,114 points, down 259 points or 0.61%. The S&P 500 index fell slightly by 1 point or 0.03% to 5,808 points. The Nasdaq rose 103 points or 0.56% to 18,518 points, approaching its historical closing high of 18,579 points. .

 The U.S. dollar index rose 0.26% to 104.33. European Central Bank President Christine Lagarde reiterated that the recovery of inflation in the Eurozone is progressing smoothly. The euro fell 0.29% to $1.0797, while the yen fell 0.31% to 152.31 per dollar.